Siemens posts multiple jump in PAT to Rs 162 crore for June quarter

Ltd on Tuesday said its standalone profit after tax (PAT) saw a multifold jump to Rs 162 crore during the quarter ended June 30, 2021, boosted by higher revenues.

In the year-ago quarter, the company had clocked Rs 10-crore “profit after tax from continuing operations”, Ltd said in a statement.

The company follows October-September as a financial year.

Ltd’s revenue from continuing operations during April-June 2021 also rose to Rs 2,658 crore, from Rs 1,149 crore in the year-ago period.

It further said new orders from continuing operations stood at Rs 4,341 crore, against Rs. 1,767 crore a year ago.

Siemens Managing Director and CEO Sunil Mathur said, “Siemens Ltd has delivered yet another solid performance this quarter despite the challenges of the second wave of the pandemic. All our business segments recorded order income growth over 2019 levels, and we have a very healthy order backlog.”

He added that increased pace of vaccination is critical for economic activity in the country to pick up.

Siemens offers broad expertise across the entire energy value chain, along with a comprehensive portfolio for utilities, independent power producers, transmission system operators, the oil and gas industry, and other energy-intensive industries.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *