Siemens Q4 Results: Net profit rises 36% YoY to Rs 534 crore
Siemens Ltd has posted a 36% rise in net profit at Rs 534 crore in the July-September quarter compared to the year ago, on the back of higher revenues, the company said in a statement.
The company reported a net profit of Rs 392 crore a year ago. It follows the October to September fiscal year.
Revenue for the quarter came in at Rs 5,297 crore, up 25% over Rs 4,236 crore a year ago.
The board recommended a dividend of Rs 10 per equity share of Rs two each for the financial year ending September 30, 2023. The company's order backlog stood at Rs 45,518 crore.
«The resilient year-on-year performance across all our businesses is representative of the continued growth in capex and digital spending by both public as well as private sectors,» said Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd.
The company added that Daniel Spindler has tendered his resignation as the Chief Financial Officer of the company, with effect from February 29, 2024.
The board has recommended the appointment of Wolfgang Wrumnig as Executive Director and Chief Financial Officer for a period of five years, from March 1, 2024, to March 28, 2029. He is the Chief Financial Officer (CFO) of Siemens Aktiengesellschaft Sterreich, Austria since October 2016.
The board has also approved an investment of around Rs 416 crore towards capacity addition for power transformers and vacuum interrupters.
The company said expansion in capacities of both these products will enable the company to meet the growing demand both in India and globally
