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After Q1 earnings, Siemens is down 2% on profit booking

9 Aug 2023 , 02:26 PM

After its Q1 earnings, investors pulled some money off the table, sending Siemens’ shares down 2% on August 9. Despite this, experts are still optimistic about the company’s prospects due to its robust order book.

Shares of the business were down 2.07% to Rs 3,701 at 13:25 p.m. on the BSE.

The company’s shares continue to have a ‘sell’ recommendation from Kotak Institutional Equities due to high valuations. The stock is valued at 62 times the estimated earnings per share (EPS) for September 2024.

Order inflows for the company of Rs 5,290 crore were up 6% on an annual basis on a high base, bringing the backlog to Rs 45,300 crore. 

In Q1FY24, Siemens’ combined net profit increased by 52% year over year to Rs 455.80 crore. EBITDA increased 38% to Rs 566.60 crore, while revenue increased 14% YoY to Rs 4,873.20 crore. In the June quarter, EBITDA margin increased to 11.63% from 9.68% a year earlier.

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Siemens Smart Infrastructure - Energy Monitor

Related Tags

  • Q1
  • result
  • Siemens
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