Profit statements

Siemens Q4 Earnings: Siemens Q4 Earnings: Net profit rises 23% to Rs 392 cr on higher revenue

New Delhi: Siemens on Tuesday reported a 23% increase in its net profit from continuing operations to Rs 392 crore in the September 2022 quarter, mainly driven by higher revenues. “(During the July-September quarter), profit after tax (net profit) from continuing operations of Rs 392 crore, increased by 23% compared to the same period last year,” a statement from the company reads. .

The company follows the financial year from October to September.

For the fourth quarter of fiscal year 2022 ended September 30,

recorded revenue from continuing operations of Rs 4,237 crore, an increase of 11% from the same quarter a year earlier, it said.

New orders from continuing operations amounted to Rs 4,009 crore, registering a 25% increase over the same period last year. The company’s backlog from continuing operations is Rs 17,183 crore, he noted.

For fiscal year 2022,

reported a 43% increase in new orders, 18% in revenue and 20% in after-tax profit from continuing operations over the prior year, he said.

Sunil Mathur, Managing Director and Chief Executive Officer of Siemens Limited, said: “The strong business performance showed the resilience of all of our businesses, which performed remarkably well. We continue to see an increase in the pace of tenders for Capex by the public and private sectors with growing interest in digital and sustainable solutions.”

At its meeting, the Board of Directors also approved a dividend of Rs. 10 per share of Rs. two each (500%) for the year ended September 30, 2022.

The dividend, as recommended by the board of directors, if declared at the next annual general meeting (AGM) of the company, would be paid from Friday, February 17, 2023.

The Board of Directors, on the recommendation of the Appointments and Compensation Committee, has proposed the appointment of Deepak S Parekh as Director (Non-Executive Non-Independent; subject to retirement by rotation) with effect from 30 January 2023, to the members for their approval.

Parekh’s second term as an independent director of the company is until January 29, 2023.

The board also noted that Johannes Apitzsch tendered his resignation as director of the company with effect from January 1, 2023, due to other commitments.