The Hindu Business Line : Siemens Q4 net up 6.9 pc; to pay 50 pc final

(From left) Mr J. Schubert, MD, Siemens Ltd, with Mr Deepak Parekh, Chairman, and Mr H.G. Gelis, Executive Director, at a press conference in Mumbai on Thursday. — Paul Noronha

Mumbai , Nov. 25

SIEMENS Ltd has reported a year-on-year increase of 6.9 per cent in net profit for the fourth quarter ended September 30, 2004.

Net profit for the fourth quarter amounted to Rs 57.2 crore, while net profit for the year-ago fourth quarter had been Rs 53.46 crore.

The Managing Director, Mr J. Schubert, at a news conference here on Thursday, said the company has grown substantially faster than the market and said there was an all round improvement almost across all its businesses.

Siemens has announced a final dividend of 50 per cent for the fiscal, which brings the total dividend for the year to 90 per cent.

Net sales, excluding excise duty, grew 29 per cent, to Rs 563.6 crore, from Rs 436.8 crore.

Total expenditure stood at Rs 512.8 crore (Rs 405.6 crore).

Profit before interest and depreciation amounted to Rs 84.5 crore (Rs 76.1 crore), growing 11 per cent.

Net interest income amounted to Rs 3.83 crore (Rs 2.47 crore).

Gross profit after interest and depreciation stood at Rs 88.4 crore (Rs 78.5 crore) while profit before tax amounted to Rs 82.3 crore (Rs 72.4 crore).

For the year ended September 30, 2004, Siemens has reported a 9 per cent increase in profit after tax, which amounted to Rs 151.4 crore (Rs 139.4 crore). After adjusting for one-time gains of Rs 33.6 crore due to order cancellation and sale of property, the operational result would show a growth of 51 per cent, said Mr Schubert.

Sales turnover for the year, at Rs 1,790 crore (Rs 1,424 crore last year) showed a 26 per cent increase, the major contributors to turnover being the automation and drives, power transmission and distribution and medical businesses of the company.

New orders during the year rose 80 per cent to Rs 3,014 crore over that of the previous year (Rs 1,675 crore), the major contributors being the power, transportation and industry businesses.

The company's cash from operations doubled over that of previous year, to stand at Rs 250 crore (Rs 111.7 crore). This is due to the positive impact of effective asset management and operational performance of the company, said a news release.

Siemens' capital expenditure for the year was Rs 31.4 crore (Rs 24.3 crore). The company's employee count rose to 4,094 from 3,811 last year.

The consolidated net profit during the year for the group as a whole dipped marginally, to Rs 169 crore, from Rs 178 crore the previous year, on account of a higher tax burden for Siemens Information Systems Ltd, a 100 per cent subsidiary of Siemens Ltd.

Sales turnover, at Rs 2,245 crore, rose 31 per cent, while profit before tax, at Rs 263 crore, rose 18 per cent.