Siemens Q1 Results: Net Profit Rises 22%, Revenue Slips
Siemens' revenue fell by 3.3% to Rs 3,587 crore in the December quarter.
Siemens Ltd. posted a 21.6% year-on-year rise in its consolidated net profit in the quarter ended Dec. 31, 2024, even as its revenue slipped during the period, according to an exchange filing on Wednesday.
The company follows an October-September cycle, which makes the October-December period its first quarter.
The net profit came in at Rs 614 crore, as compared to Rs 505 crore in the year-ago period.
Siemens Q1 Earnings Highlights (Consolidated, YoY)
Revenue down 3.3% at Rs 3,587 crore versus Rs 3,709 crore.
Ebitda declines 11.4% to Rs 400.4 crore versus Rs 451.8 crore.
Margin contracts 102 basis points to 11.16% versus 12.18%.
Net profit up 21.6% at Rs 614 crore versus Rs 505 crore.
The company's new orders during the quarter under review rose by 20% to Rs 4,258 crore, as compared to Rs 3,560 crore in the corresponding period of the last fiscal.
“Our smart infrastructure and mobility businesses, which are largely linked to government spending in capex, continued to grow profitably. However, our revenue and consequently also our profit from operations for this quarter were impacted by a slowdown in the short cycle private sector capex spending and the normalisation of demand in our digital industries business."
Discontinued Operations (Energy Business)
Siemens' energy business continued to deliver strong profitable growth during the quarter on continued strong demand for transmission products and solutions. Revenue and profit after tax for discontinued operations for the December quarter stood at Rs 1,431 crore (up 28%) and Rs 243 crore (up 158%), respectively.
After the quarterly results were declared, shares of Siemens were trading 1% lower at Rs 5150.6 apiece on the BSE at 2:36 p.m., compared to a 0.45% decline in the benchmark Sensex.
