Siemens India Q3 FY24 net profit up 27% YoY to Rs. 578 crores

Mumbai: Technology and infrastructure solutions provider Siemens Ltd on Friday reported a 27% jump in consolidated net profit for the third quarter of fiscal 2024. June quarter net profit at Rs. 578 crore which was Rs. 456 crores. According to an exchange filing on Friday.

The company follows the October-September period to report its quarterly results. Total income Rs. 4873 crores up 7% to Rs. 5203 crores.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited said, “All our businesses performed well in the quarter with strong growth in revenue and profit. The strong performance is driven by a high-quality order backlog that we continue to deliver diligently.”

Marhur added that while order income in our smart infrastructure, mobility and energy segments is strengthening, the company is experiencing weaker orders in the digital industries segment.

“We believe that with the government’s focus on capex in infrastructure, demand for our products and solutions will remain strong.”

The company’s new orders are Rs. 6,245 crore, which is 18% higher than the same period last year. The energy segment’s revenue on an annual basis is Rs. 1,518 crore down to Rs. 1,485 crores.

Shares of Siemens rose 1.44% on the BSE to Rs. 6,882.85, compared with a 1% gain in the benchmark Sensex.