Siemens India shares climbed on Tuesday after the company posted a robust 45% increase in net profit, reaching ₹775 crore for the July-September quarter, compared to ₹534 crore in the same period last year. The growth was fueled by higher revenues and a sharp rise in new orders.
As of 9:25 am the shares were trading 2.45% higher at ₹7,419.90 on NSE.
Key Highlights:
- Revenue Growth: Revenue for the quarter rose 11% to ₹5,894 crore, compared to ₹5,297 crore in Q4 FY23.
- New Orders: Orders surged 37% year-on-year, totaling ₹6,164 crore compared to ₹4,498 crore in the corresponding period last year.
- Dividend Announcement: The board has recommended a ₹12 per equity share dividend (600%) for FY24.
- Annual Performance:
- Net profit for FY24 (October 2023 – September 2024) rose 39% to ₹2,665 crore, compared to ₹1,911 crore in FY23.
- Revenue increased 14%, reaching ₹20,250 crore from ₹17,701 crore in the prior fiscal year.
Capacity Expansion at Kalwa
Siemens announced an additional ₹100 crore capex for expanding its Power Transformer factory in Kalwa, bringing the total investment for the project to ₹460 crore (up from ₹360 crore announced in November 2023). This expansion aims to broaden the company’s product portfolio and cater to growing demand.
TOPICS:
Siemens India