Siemens Ltd. delivers record growth; 96 % increase in new orders and 24% revenue growth from continuing operations
For the second quarter of Financial Year 2017 ended March 31, 2017, Siemens Ltd. registered 24 % Revenue growth from continuing operations at Rs. 2,983 crore compared to Rs. 2,407 crore in second quarter of Financial Year 2016. Profit after tax from continuing operations stood at Rs. 186 crore in Q2 2017 compared to Rs. 189 crore in Q2 2016.
For the first half of Financial Year 2017 ended March 31, 2017, Siemens Ltd. registered 45% increase in New Orders from continuing operations at Rs. 7,948 crore compared to Rs. 5,486 crore in the same period of Financial Year 2016.
Revenue from continuing operations grew by 20% in H1 2017 over the same period in the preceding year while Profit after Tax was higher at Rs. 347 crore.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd., said, “All our Divisions have performed well. With our digital solutions, we are supporting our customers in finding solutions to problems that are foremost on their minds. Our Public Sector business is growing well with focus by the Government on the Transmission & Distribution of power as also on modernizing the Indian railways.”