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Mumbai, May 2

Higher sales coupled with lower expenditure helped industry and infrastructure solutions provider Siemens Ltd report a net profit of Rs 225.5 crore for the quarter ended March 31, against Rs 1.7 crore in the corresponding quarter last fiscal. The company’s net sales during the quarter rose 11 per cent to Rs 2,368 crore from Rs 2,142 crore in the previous year, while its expenditure dropped by Rs 102 crore to Rs 2,052 crore in the quarter ended March 31, 2009. Accordi ng to the statement issued by the company, the figures are not comparable to the previous year as substantial completion of certain large projects has resulted in significant saving in estimated costs and consequential recognition of additional revenue and profits. For the six-month ended March, the company posted a net profit of Rs 556.09 crore (Rs 198.70 crore).

— Our Bureau

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