Siemens net profit rises 9.6 percent in Q4

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Mumbai, May 6 (IANS) Technology major Siemens on Friday reported a 9.6 percent rise in its net profit for the quarter ended March, 2016 at Rs.177 crore as compared to Rs.162 crore in the corresponding quarter last year.

Revenue rose 5.3 percent to Rs.2,725 crore in the January-March quarter as compared to Rs.2,589 crore in the year-ago quarter.

Total income increased to Rs.2,810.59 crore for the quarter under review from Rs.2,682.91 crore for the corresponding quarter last year, the company said in a BSE filing.

The technology company registered 10.5 percent rise in new orders at Rs.2,939 crore in the quarter as compared to Rs.2,661 crore in the same quarter last year, it said.

“While we are beginning to see government spending in infrastructure projects picking up, we are awaiting first signs of investments from the private sector,” said managing director and CEO Sunil Mathur.

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