Siemens net up 45% to Rs 775 crore in July-September

Siemens on Tuesday posted a 45 per cent jump in its net profit to Rs 775 crore in the July-September quarter compared to the year-ago period on higher revenues.

The company had reported a net profit of Rs 534 crore in the quarter ended on September 2023, a company statement said.

Revenue rose by 11 per cent to Rs 5,894 crore in the quarter from Rs 5,297 crore in the same period a year ago.

New orders rose by 37 per cent to Rs 6,164 crore in the quarter from Rs 4,498 in the same period a year ago.

The board also recommended a dividend of Rs 12 per equity share of Rs 2 each (600%) for the financial year ended on 30th September 2024.

The dividend, as recommended by the Board of Directors, if declared at the ensuing Annual General Meeting (AGM) of the company, would be paid from Friday, 14th February 2025.
The company follows the October to September fiscal year.

Its net profit in fiscal 2023-24 (October 2023 to September 2024) rose by 39 per cent to Rs 2,665 crore from Rs 1,911 crore in the previous fiscal.
Revenue increased by 14 per cent to Rs 20,250 crore from Rs 17,701 crore in the previous fiscal year.

The company announced an additional capex of Rs 100 crore for the capacity expansion of the Power Transformer factory at Kalwa (announced in November 2023) to expand the range of its product portfolio envisaged earlier.

The capex for the power transformer factory in Kalwa is now expected to be Rs 460 crore (Rs 360 crore announced in November 2023).

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd said, "The company delivered a strong set of results in Q4 FY 2024, with growth across all financial metrics. In particular, we continued to gain market share from a healthy demand across all our businesses with increasing interest in Siemens Xcelerator, our digital platform.

"With a pick-up in private sector capex and the Government's ongoing focus on capex in infrastructure, we believe we are well positioned to meet the growing opportunities in the market. We are currently focused on completing the announced demerger of the Energy business which will unlock value for our shareholders," he added.