Siemens rallies 8% on good operational performance in September quarter

The EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin improved 180 basis points (bps) YoY to 12.9 per cent, largely led by a 210bp YoY expansion in gross margins.

Shares of Siemens rallied 8 per cent to Rs 1,472 on the BSE in the early morning trade on Thursday even after the company reported a 4.7 per cent year-on-year (YoY) fall in consolidated net profit at Rs 330 crore for the September quarter mainly on higher expenses due to lockdown.

The company said the profit was impacted due to expenses incurred during the lockdown period amounting to Rs 285 crore. Revenue from continuing operations fell 9.2 per cent to Rs 3,422 crore over the corresponding quarter of the previous year. The EBITDA (earnings before interest, taxes, depreciation, and amortisation)