Technology firm Siemens Ltd posted its third quarter profit at Rs 455.50 crore, up 51.5 per cent in comparison to Rs 300.70 crore during the corresponding quarter of last year, primarily on the back of a rise in operating margins during the quarter. It posted revenue from operations at Rs 4873.20 crore, up 14.4 per cent as against Rs 4258.30 crore during the quarter ended June 2022. The company follows the October-September financial year.According to the CNBC TV18 estimates, Siemens was expected to clock a profit at Rs 442 crore and revenue at Rs 4900 crore during the third quarter ended June 30, 2023. The company EBITDA stood Rs 566.5 crore.
Siemens recorded a total income during the quarter in review at Rs 5005.60 crore, up 15.4 per cent in comparison to Rs 4337 crore during the year-ago period. However, total expenses during Q3 stood at Rs 4398.50 crore, up 11.9 per cent from Rs 3929.20 crore during the same quarter last year.
The company’s new orders stood at Rs 5288 crore, up 5.9 per cent on-year. Base business increased by 10.9 per cent, whereby advance orderings in short-cycle product businesses still had some adverse impact.
“We continue to see a consistently strong performance across all our businesses with a healthy mix of orders from both the government and private sector, especially in infrastructure and railways. As delivery periods and supply chain issues start improving, volumes are beginning to normalize,” said Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited.
Siemens’ energy segment posted a revenue at Rs 1518.10 crore during the quarter, while the smart infrastructure category recorded a revenue of Rs 1720.60 crore in Q1. The mobility segment, meanwhile posted the quarter revenue at Rs 577.60 crore and the digital industries segment brought in a revenue of Rs 1127.30 crore during the period.