Siemens Energy Q2 Results: Profit Jumps 27%, Raw Material Costs Drag Margin
Siemens Energy share price rose nearly 4% after second quarter profit and revenue saw strong growth.
Siemens Energy India Ltd. reported a solid growth in revenue and profit in the quarter ending March, but higher raw materials weighed on operatinh margin.
Revenue increased 57% to Rs 1,879 crore in the second quarter, compared to Rs 1,197 crore in the year-ago period, according to results released on stock exchanges. Net profit rose nearly 37% to Rs 246 crore.
The company follows a October-September financial year.
Siemens Energy Q2 Results Highlights
Revenue up 57% to Rs 1,879 crore versus Rs 1,197 crore
Net profit up 36.7% to Rs 246 crore versus Rs 180 crore
Ebitda up 32.3% to Rs 357.60 crore versus Rs 270.3 crore
Margin at 19% versus 22.6%
Raw material costs doubled and stock-in-trade expenses tripled, dragging operating profitability. Earnings before interest, tax, depreciation and amortisation rose 32%, but margin contracted to 19% from 22.6% last year.
Revenue from power transmission business surged 67.6% to Rs 1,014 crore in the second quarter. Power generation rose 46.3% to Rs 866 crore.
Siemens Energy Shares Rise
Siemens Energy share price rose nearly 4% intraday to Rs 3,009 apiece on the NSE after the results.
Siemens Energy share price rose nearly 4% intraday to Rs 3,009 apiece on the NSE after the results. The scrip was trading 3.4% higher as of 1:30 p.m. The benchmark Nifty 50 was flat.
The total traded volume was Rs 240.82 crore with over eight lakh shares changing hands, as per NSE data.
The stock has risen nearly 21% since listing on June 19. It was demerged from Siemens Ltd. in April.
