Siemens Limited announces Q1 FY 2020 results; 4.5% decline in Revenue with a 15.2% increase in Profit after Tax

Siemens Limited reported a 4.5% decrease in Revenue at Rs. 2,611 crore with a 15.2% growth in Profit after Tax at Rs. 263 crore for the first quarter of Financial Year 2020 as compared to the corresponding quarter of the previous year. The Company’s Order Backlog stands at a healthy Rs. 12,430 crore.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “Capex ordering, particularly in the infrastructure segments continues to be muted while the slowdown in the Automotive segment is impacting our Industrial business as well. The recent announcement by the Government of the National Investment Pipeline will go a long way in reviving demand and we look forward to its speedy implementation”.

      

Siemens Limited focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. It is also a leading supplier of smart mobility solutions for rail and road transport and infrastructure solutions for Smart Cities. Siemens Limited, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. As of September 30, 2019, Siemens Limited had Revenue of INR 13,323 crore and 9,437 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.”