Business Daily from THE HINDU group of publications
Friday, Jan 19, 2007
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Business Daily from THE HINDU group of publications Friday, Jan 19, 2007 ePaper |
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Financial Performance Corporate Results - Electrical Goods
Our Bureau
Mumbai Jan. 18 Siemens Ltd, a leading provider of industry and infrastructure solutions in India, has reported a 100 per cent jump in its net profit for the quarter ended December 31, 2006, at Rs 98.01 crore compared with Rs 49 crore posted during the corresponding quarter of the previous fiscal. The growth has been spurred by its power, automation and industrial services businesses. The company posted a sales turnover of Rs 1,626.90 crore (Rs 851.10 crore) up 91 per cent.
Largest Order
The intake of new orders increased by 23 per cent to Rs 5,127.50 crore (Rs 4,162.20 crore). The major driver was the repeat order from Qatar for a power transmission and distribution project. Mr J. Schubert, Managing Director of the company, said in a statement that the company opened the year on a very positive note by bagging the single largest order in Siemens power transmission and distribution division worldwide. "We have a good balance between the short and long cycle businesses, which is optimal for sustained and steady profitable growth. We are satisfied with our earnings development, which is in line with our volume growth," he said. The company, with a business volume aggregating about Rs 9,000 crore, operates in the core business segments of energy, IT, communication, transportation, healthcare and lighting. It has 17 manufacturing plants. The company's power business registered the maximum growth during the quarter earning revenue of Rs 988.7 crore (Rs 349.50 crore). Automation business also saw revenue of Rs 316 crore (Rs 226.20 crore).
Related Stories: More Stories on : Financial Performance | Electrical Goods | Siemens Ltd
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