Siemens Sept quarter profit slips 5% to Rs 333 cr on higher expenses

Technology major Siemens on Wednesday reported 4.7 per cent fall in net profit at Rs 333 crore for September quarter mainly on higher expenses due to lockdown.

“The Net Profit after Tax from continuing operations decreased by 4.7 per cent to Rs 333 crore, compared to the same period of previous year,” a company statement said.

Revenue from continuing operations fell 9.2 per cent to Rs 3,422 crore over the corresponding quarter of the previous year.

The company follows October-September financial year.

During the quarter, new orders from continuing operations grew 8.7 per cent at Rs 3,220 crore as compared to the year-ago period, it added.