Technology firm Siemens Ltd on Tuesday posted nearly 74 per cent rise in March quarter profit after tax at Rs 896 crore, mainly on the back of higher revenues. The company, which follows October-September financial year, had logged a profit after tax (PAT) of Rs 516 crore in the year-ago quarter, Siemens said in a statement. The company said it received new orders worth Rs 5,184 crore. Revenue during the quarter stood at Rs 5,248 crore, a 19 per cent increase over Rs 4,400 crore in March quarter 2023. Managing Director and Chief Executive Officer Sunil Mathur said the second quarter showed a robust growth in revenues built off a strong order backlog. Some large orders have been deferred. There has also been a slowdown in ordering of industrial automation products due to normalization of demand following shorter delivery cycles, he stated. "Our growth in profits include volume and price effects, continued productivity measures as also gains on account of sale of property and divid
Rebellius, head of Siemens' Smart Infrastructure business, said India was a priority for future investments as it upgrades its electric grid and invests in renewable energy
Siemens Ltd on Tuesday posted a 9.2 per cent rise in net profit at Rs 505.7 crore in the first quarter ended December 31 due to higher revenues. The company follows the October to September fiscal year. It had reported a net profit of Rs 462.7 crore in the October-December period of the preceding financial year, Siemens Ltd said in an exchange filing. Its total income rose to Rs 4,989.3 crore over Rs 4,116.8 crore a year ago. Expenses stood at Rs 4,311 crore as against Rs 3,495.7 crore in the first quarter of last fiscal. In a separate statement, the company said it has received new orders of Rs 5,971 crore in the first quarter, a 10 per cent increase over the same period of last year. The first quarter (result) includes significant gain of Rs 103 crore due to positive effects of foreign exchange and commodities, the company said. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, "While strong revenues came in from our digital industries, smart
The CBI has booked Chennai-based Siemens Gamesa Renewable Power and three retired officials of SJVN, among others, for allegedly causing a Rs 191-crore loss to the PSU because of irregularities in the installation of its wind power plant in Ahmednagar, officials said on Wednesday. The agency has booked three retired senior officers -- RK Agarwal (executive director), Sanjay Uppal (chief general manager) and AK Jindal (deputy general manager) -- of SJVN Limited (earlier known as Satluj Jal Vidyut Nigam), besides Power Energy Consultants representatives Vineet Sharma and CM Jain and Chennai-based Gamesa Wind Turbines Private Limited (now known as Siemens Gamesa Renewable Power Private Limited), they said. Queries seeking a reaction from Siemens Gamesa Renewable Power remained unanswered. After registering the FIR, the Central Bureau of Investigation (CBI) conducted searches at seven places in Delhi, Ghaziabad, Gurugram, Samana in Punjab's Patiala district and Chennai, on the premises
Closing Bell on Tuesday December 19: Among sectors, the Nifty FMCG index rose 1.4 per cent , followed by the Nifty PSU Bank (up 0.8 per cent)
Siemens board has authorized the management to commence exploratory steps as may be required to examine a potential demerger of the energy business.
A near 10 per cent rally in November and restructuring of promoter holding are seen as reasons for the subdued reaction
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"The expansion in capacities of both these products will enable the company to meet the growing demand both in India and globally," the company said
Once the demerged entity is listed, Siemens Energy is to ultimately acquire a controlling stake in the demerged energy business
Siemen AG's total stake in its Indian arm will jump to 69 per cent from 51 per cent at present
The German government said Tuesday it is granting a 7.5 billion-euro (USD 8 billion) loan guarantee to energy technology company Siemens Energy as part of a 15 billion-euro package to help the firm, an important player in the transition to renewable energy sources. Siemens Energy sought help from the government as it struggles with problems at its Gamesa wind energy subsidiary, including quality issues with previously installed wind turbines. The company said on October 26 that the strong growth in order intake, particularly in the former gas and power business areas, leads to a rising need of guarantees for long-term projects. It said it was in talks with partners, including the government, to ensure access to guarantees "to facilitate the anticipated strong growth." The government held talks with Siemens Energy, industrial conglomerate Siemens AG which spun off Siemens Energy in 2020 and retains a minority stake in the company and with private banks. The Economy Ministry said .
Of the 15 billion, banks involved in the talks will bear around 12 billion euros, of which the government would backstop 7.5 billion, the people said
The shares are currently worth about 3.3 billion ($3.5 billion). Siemens already owns 51% of the Indian business
India is one of the fastest-growing market in terms of adding incremental revenue
Extracting carbon dioxide from the atmosphere rather than sources of emissions, the direct-air method is the costliest application of carbon capture, according to the International Energy Agency
Short-term trend of the Siemens turned weak as the stock price is trading below its 5,11 and 20-day EMA
The NCDs will have five options with different tenures and interest payout options
Stocks to watch on August 09, 2023: Shares of Adani Enterprises and Adani Wilmar are likely to be in focus on Wednesday amid reports of stake sale in the latter company.
Tech firm Siemens on Tuesday posted over 43 per cent rise in its net profit to Rs 424 crore in the June quarter compared to a year ago mainly on the back of higher revenues. "For the third quarter of Financial Year 2023 ended June 30, 2023, Siemens Limited registered Profit after Tax at Rs 424 crore, an increase of 43.4 per cent over the same period last year," a company statement said. According to the statement, revenue in the quarter was at Rs 4,407 crore, a 14 per cent increase over the same quarter in the preceding year. The company's new orders stood at Rs 5,288 crore, a 5.9 per cent increase over the same period last year, it stated. Base business has increased by 10.9 per cent, whereby advance orderings in our short-cycle product businesses still had some adverse impact, it stated. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens said in the statement, "We continue to see consistently strong performance across all our businesses with a healthy mix of or