Technology firm Siemens Ltd on Tuesday reported a 51.8 percent year-on-year (YoY) jump in consolidated net profit at Rs 455.5 crore for the third quarter that ended June 30, 2023. The company follows October-September financial year.
In the corresponding quarter last year, Siemens posted a net profit of Rs 300.1 crore, the company said in a regulatory filing. CNBC-TV18 Polls had predicted a profit of Rs 442 crore for the quarter under review.
In the quarter, total revenue stood at Rs 4,873.2 crore, up 14.4 percent against Rs 4,258 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 4,900 crore for the quarter under review.
At the operating level, EBITDA jumped 37.5 percent to Rs 566.6 crore in the first quarter of this fiscal over Rs 412 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 11.6 percent in the reporting quarter as compared to 9.7 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company's new orders stood at Rs 5,288 crore, a 5.9 percent increase over the same period last year. The base business has increased by 10.9 percent, whereby advance orderings in our short-cycle product businesses still had some adverse impact.
Sunil Mathur, managing director, and chief executive officer of Siemens, said, "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 normalise."
The results came after the close of the market hours. Shares of Siemens Ltd ended at Rs 3,781.85, down by Rs 51.35, or 1.34 percent on the BSE.
