Siemens shares jump 10% post September-quarter earnings

Shares of Siemens Ltd jumped nearly 10 per cent in early trade on Thursday after the company reported decent September quarter earnings and said it is optimistic about its future growth amid easing of lockdown restrictions.

The stock gained 9.94 per cent to Rs 1,497.95 on the BSE.

At the NSE, it zoomed 9.85 per cent to Rs 1,498.70.

Siemens on Wednesday reported a marginal 4.7 per cent fall in net income to Rs 333 crore for the September quarter, due to the coronavirus-induced lockdown that led to underutilisation and a resultant loss of Rs 285 crore.

The company follows an October-September financial year and reported a dip in revenue and profit for the full year to September.