Siemens posts $1.60 Billion as net profit


Siemens, leading engineering and technology solutions provider, today posted $1.60 Billion standalone net profit for the third quarter of this fiscal, up 43% compared to the year-ago period.

The company had posted a net profit after tax of $1.11 billion for the quarter ended December 31, 2015, it said in a BSE filing today. According to the statement, total income increased from Rs 2,440 crore for the quarter ended December 31, 2015 to $ 24.58 billion a year earlier. Commenting on the results, Managing Director and Chief Executive Officer, Siemens Ltd, Mathur said, “While our revenue growth comes out of our backlog, growth in our order volumes comes from small and medium sized orders primarily in the railways and energy transmission segments. Our growth, however, will depend on large public tenders in these segments.”

It said that Siemens focuses on the areas of electrification, automation and digitization. The company is one of the producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and also supplier of healthcare equipment.

Siemens has 21 factories located across the country and a nation-wide sales and service network. Siemens Ltd, in which Siemens AG holds 75 per cent of the capital, is the flagship listed company of Siemens AG. As of September 30, 2016, Siemens Ltd had revenue of $ 108.08 billion and 9,580 employees.

It is a global powerhouse focusing on the areas of electrification, automation and digitization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role. Siemens’ technical expertise, comprehensive portfolio and long-standing experience are helping to pioneer a sustainable future across the globe. Find detailed information, news, insights and references on the topic areas that exemplify Siemens’ success in providing state-of-the-art solutions in fields including IT, industry, finance and energy.It makes real what matters. With innovations that improve life. For customers, for society and for each individual. This is Ingenuity for life.  From building technologies and integrated mobility to efficient power distribution and smart grids, the digitization of infrastructures leads our cities in the future.