Siemens Ltd net profit up 50.7% in June quarter

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Mumbai, 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.

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