Siemens Ltd. announces Q3 results

During the nine months ended on June 30, 2010, the company’s New Orders increased by 52% to Rs. 9,413 crores over the corresponding period in 2009. For the same period, the company’s order backlog significantly increased by 34% to Rs 13,554 crores. All three Sectors of Industry, Energy and Healthcare contributed to the growth in Orders.

For the third quarter ended June 30, 2010, Sales increased by 17% to Rs. 2,235 crores. Sales for the nine month period increased by 7% to Rs 6,314 crores driven by the divisions of the Industry and Healthcare Sectors as well as Distribution and Oil & Gas divisions of the Energy Sector.

During the quarter, the PFO stood at 10% to sales and for the nine month period ending June 30, 2010, the PFO increased to 13% to sales, notwithstanding an impact of Rs. 183  crores (previous period- gain of Rs. 2.4 crores) on account of exchange losses.  Commenting on company’s performance, Dr. Armin Bruck, Managing Director, Siemens Ltd. said, “In the last nine months, we have seen a strong growth in our short cycle business, which is contributing to our results. We have a robust order backlog from our long cycle project business resulting in a strong revenue pipeline for our future growth. ” 

Siemens Ltd., in which Siemens AG holds 55.18% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India, which comprises 19 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Energy and Healthcare. It has nation-wide Sales and Service network, 21 manufacturing plants, a network of around 500 channel partners and employs about 16,800 people.