Siemens Q3 net profit more than doubles to Rs 300 crore

Siemens Limited is a technology company focused on industry, infrastructure, transport and transmission and electricity generation.

Siemens Q3 net profit more than doubles to Rs 300 crore
The expenses stood at Rs 3,929.20 crore during the quarter under review compared to Rs 2,692.8 crore in the preceding fiscal. (Reuters)

Siemens Limited’s consolidated profit more than doubled to Rs 300.7 crore in the third quarter ended June 30, mainly on account of higher income.

Its “profit for the period” was Rs 141.8 crore a year ago, according to a regulatory filing.

Siemens follows October to September financial year.

Also read: Siemens introduces Xcelerator platform, partners NVIDIA to boost AI use

The company’s total income rose to Rs 4,337 crore in the first quarter of the current fiscal. It was Rs 2,889 crore in the same period last year, it said in the filing on Tuesday.

The expenses stood at Rs 3,929.20 crore during the quarter under review compared to Rs 2,692.8 crore in the preceding fiscal.

“The strong performance was across all our businesses and included a significant order in our mobility business. While we are currently not experiencing a slowing down in public and private capex spending, we are concerned about global headwinds impacting demand, which could result in a slowdown in capex spending,” Siemens Managing Director and Chief Executive Officer Sunil Mathur said in a statement.

Also read: Siemens introduces Xcelerator platform, partners NVIDIA to boost AI use

Siemens Limited is a technology company focused on industry, infrastructure, transport and transmission and electricity generation.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos