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Our Bureau

Mumbai , Aug. 3

A SUBSTANTIAL growth in the automation and drives, power and healthcare businesses, coupled with "rationalisation of processes" has led to Siemens Ltd reporting a 130 per cent increase in net profit, year-on-year, for its third fiscal quarter ended June 30, 2004.

The company reported a net profit of Rs 35.6 crore for the quarter against Rs 15.5 crore during the corresponding quarter of the previous year. Its turnover increased 49 per cent, to Rs 445.7 crore from Rs 299.5 crore.

The automation and drives business amounted to Rs 152 crore of this turnover, up from Rs 103.7 crore; while its power business rose to Rs 104.6 crore from Rs 71.3 crore.

Total expenditure amounted to Rs 412.7 crore (Rs 282.7 crore). Profit before interest and depreciation stood at Rs 51.5 crore (Rs 22.8 crore), while net interest income for the quarter amounted to Rs 3.5 crore (Rs 3 crore). Profit before tax was 141 per cent higher at Rs 49.6 crore (Rs 20.6 crore).

New orders during the three-month period were marginally lower at Rs 388.6 crore (Rs 392.1 crore).

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