Sales for Q1 2013 was flat at Rs. 2,450.9 crores against Rs. 2,470.9 crores for Q1 2012, while New Orders for the quarter were Rs. 1,993.5 crores, down by 31% over the same period last year.
Dr. Armin Bruck, Managing Director, Siemens Ltd. said, “Given the continuing difficult macro-economic conditions in India, our first quarter results show a solid performance, with steady sales and good improvement in the bottom line. Nevertheless, customer liquidity issues, delays in infrastructure projects commencement and the decline in our order books remain an area of concern to us.”
The Company completed the amalgamation of Siemens Power Engineering Pvt. Ltd., a 100% subsidiary of Siemens AG, during the quarter.
About Siemens Ltd.:
Siemens Ltd., in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India including Siemens Ltd. comprises 12 legal entities, is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Infrastructure & Cities, Energy and Healthcare. It has a nation-wide sales and service network, 23 manufacturing plants and employs about 19,000 people.