Siemens Q2 PAT rises 90% yoy to Rs334cr; Stock hits new 52-week high

The company sees robust growth in new orders, revenue, and profitability across all businesses. Revenue rose to Rs3,483.7cr.

May 12, 2021 11:05 IST India Infoline News Service

For the second quarter of Financial Year 2021 ended March 31, 2021, Siemens Limited reported 90% yoy higher consolidated profit at Rs334.4cr against Rs175.7cr in Q2FY20; revenue increased to Rs3,483.7cr from Rs2,640.2cr yoy.

The company stock was in demand on Wednesday, hitting a fresh 52-week high of Rs2,143.20 per piece. At around 11.05 am, Siemens Ltd was trading at Rs2079.20 up Rs130.20 per piece or 6.68% from its previous closing of Rs1,949 per piece on the BSE.

The company follows the October to September financial year. It registered New Orders from continuing operations of Rs3,309cr, registering a 16.9% increase over the same period last year. Revenue from continuing operations was Rs3,298cr, a 29.6% increase over the same quarter in the preceding year.

The company reported Profit before Tax from continuing operations of Rs433cr, an increase by 94.8% over the same period last year. The company’s Order Backlog stands at a healthy Rs12,677cr.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “Order growth has been robust across all our businesses. There has been increased demand in our power transmission, digital grid and distribution systems businesses. Our digital industries segment saw growth in the machine tool and process automation businesses.

The March-end quarter demonstrated a steady revival in the economy with both private and public sectors beginning to invest in anticipation of future growth.”

“The second surge of the pandemic has impacted human lives in an unprecedented manner. A cross-functional Siemens India Task Force Team has been working since March 2020 to coordinate the implementation of concrete measures to support our employees at this difficult time. In addition, the Company is providing testing kits, oxygen concentrators, oxygen generators etc. to hospitals around the country as our small contribution to society,” added Mathur.

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