Business Daily from THE HINDU group of publications
Tuesday, Jul 24, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 24, 2007 ePaper |
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Corporate Results
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Diversified
Our Bureau Mumbai, July 23 Engineering major Siemens Ltd has posted 44.6 per cent increase in its net profit at Rs 81.7 crore for its third quarter of the financial year (October 2006-September 2007) from Rs 56.5 crore for the same quarter in the previous year. The net sales of the company stood at Rs 1,782.2 crore (Rs 1,052.2) , a rise of 69.37 per cent. The growth has been driven principally by power and industrial solutions and services businesses of the company. Power biz
For the quarter under review, the company’s power business has registered over 113 per cent growth in revenue to Rs 982.2 crore ( Rs 460.2 crore). The revenues of industrial solutions and services business, which offers turnkey engineering and automations solutions to aviation, oil and gas and paper industry has also increased by over 100 per cent Rs 236.9 crore (Rs 117.7). The operating margin for quarter has dipped to 6.75 per cent from 7.75 per cent. However, the growth in profit has been made possible due to higher volume of business. The company received new orders worth Rs 1,753.6 crore for the quarter, an increase of 44.81 per cent compared with Rs 1,210.9 crore for the same quarter in the previous year. The outstanding order book value currently stands at Rs 10,816 crore against Rs 7,722 crore as of June 2006. The board of directors also approved the sale and transfer of Siemens VDO Automotive division valued at Rs 170 crore to Siemens VDO Automotive Components Pvt Ltd, Bangalore, a proposed new 100 per cent subsidiary of Siemens, AG. At the closing of the BSE, the shares were traded at Rs 1,322.15, a decline of 1.56 per cent over the previous day’s close.
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