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Siemens Ltd net profit up 50.7% in June quarter

Posted By: Doraiah Vundavally July 31, 2017

Siemens Ltd net profit up 50.7% in June quarterMumbai, July 31 (IANS) Technology major Siemens Ltd on Monday reported a 50.7 per cent increase in its standalone net profit from continuing operations to Rs 163 crore in the quarter ended June 30, 2017 as compared to Rs 108 crore in the corresponding period last year.

The company, in the quarter under review registered 24.3 per cent revenue growth from continuing operations at Rs 2,695 crore compared to Rs. 2,168 crore in the year ago-period.

All divisions witnessed revenue growth based on a strong order backlog.

 

"All our businesses have performed consistently well. While Government spending continues in the transmission, distribution and railway segments, we are seeing the first signs of capex (capital expenditure) spending by the private sector as well," said company's Managing Director and Chief Executive Officer Sunil Mathur.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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Siemens Ltd net profit up 50.7% in June quarter

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.