01-November-2024
Corporate News
 
Siemens profit surges 70%, to list energy biz into separate entity
15-May-2024

India-listed entity Siemens reported a 70 per cent rise in its net profit for the March 2024-ended quarter (Q4FY24) on the back of improved operational performance. Further, the company also announced fresh capex of more than Rs 500 crore and a demerger plan for its energy business, in separate announcements. For Q4FY24, Siemens reported a net profit of Rs 803 crore attributable to the owners of the company, up from Rs 471 crore reported in the same period a year ago. Revenue from operations for the company also rose 18.4 per cent to Rs 5,750 crore from a year ago. Other income for the company grew multifold to Rs 321 crore, from Rs 117 crore on a year-on-year basis.

News Source:- https://www.business-standard.com/companies/results/siemens-q4fy24-results-net-profit-rises-70-to-rs-803-cr-revenue-up-18-4-124051401270_1.html