Monday, May 27, 2024
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Siemens Limited announces a 22% increase in Revenue at 14% PBT (as a % of Revenue) in Q1 FY 2024 results

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For the first quarter of Financial Year 2024 ended December 31, 2023, Siemens Limited registered Revenue at Rs. 4,395 crore (a 22% increase over the same quarter in the preceding year). The Company received New Orders of Rs. 5,971 crore, a 10% increase over the same period last year. Profit after Tax stood at Rs. 463 crore (11% of Revenue). The first quarter of Fiscal Year 2023 included significant gain of Rs. 103 crore due to positive effects of foreign exchange and commodities.

Mr. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited
Mr. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited

Mr. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited said, “While strong Revenues came in from our Digital Industries, Smart Infrastructure and Mobility businesses, our Order Income growth came from our Energy business driven primarily by our Transmission business. There was a decline in New Orders in our Digital Industries Automation business on account of destocking following normalization in demand. We expect this to normalize from Q3 onwards. Capex demand across segments, largely driven by Capex spending in Public Infrastructure, continues to be good. Private Capex is also beginning to pick up.”

CFO, Dr. Daniel Spindler
CFO, Dr. Daniel Spindler

Sunil Mathur further added, “We would like to wish our current CFO, Dr. Daniel Spindler, well as he moves on to take a Senior Management role with Siemens AG and thank him for his contribution to Siemens Limited. We would like to welcome his successor, Wolfgang Wrumnig, in his new role as CFO of the Company.”

Covered By: NCN MAGAZINE / Siemens

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