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Press Release13 February 2024Siemens AGMumbai
Siemens Limited announces a 22% increase in Revenue at 14% PBT (as a % of Revenue) in Q1 FY 2024 results
For the first
quarter of Financial Year 2024 ended December 31, 2023, Siemens Limited
registered Revenue at Rs. 4,395 crore (a 22% increase over the same quarter in
the preceding year). The Company received New Orders of Rs. 5,971 crore, a 10%
increase over the same period last year. Profit after Tax stood at Rs. 463
crore (11% of Revenue). The first quarter of Fiscal Year 2023 included
significant gain of Rs. 103 crore due to positive effects of foreign exchange
and commodities.
Sunil Mathur,
Managing Director and Chief Executive Officer, Siemens Limited, said, “While
strong Revenues came in from our Digital Industries, Smart Infrastructure and
Mobility businesses, our Order Income growth came from our Energy business
driven primarily by our Transmission business. There was a decline in New
Orders in our Digital Industries Automation business on account of destocking
following normalization in demand. We expect this to normalize from Q3 onwards.
Capex demand across segments, largely driven by Capex spending in Public
Infrastructure, continues to be good. Private Capex is also beginning to pick
up.”
Sunil
Mathur further added, “We would like to wish our current CFO, Dr. Daniel
Spindler, well as he moves on to take a Senior Management role with Siemens AG
and thank him for his contribution to Siemens Limited. We would like to welcome
his successor, Wolfgang Wrumnig, in his new role as CFO of the Company.”
Siemens Limited is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for people. Siemens Limited is the flagship listed company of Siemens AG in India. As of September 30, 2023, Siemens Limited had Revenue from continuing operations of Rs. 17,701 crore and 8,888 employees. Further information is available on the Internet at
www.siemens.co.in.
Forward-looking statements: “This document contains forward-looking statements based on beliefs of Siemens' management. The words 'anticipate', ‘believe’, ‘estimate’, ‘forecast’, ‘expect’, ‘intend’, ‘plan’, ‘should’, and ‘project’ are used to identify forward looking statements. Such statements reflect the company's current views with respect to the future events and are subject to risks and uncertainties. Many factors could cause the actual result to be materially different, including, amongst others, changes in the general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services, and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend to assume any obligation to update these forward-looking statements.”
Contact
Bijesh Kamath / Shahzad Bagwan
Siemens Limited, Media Relations
+91 22 6251 7000