Siemens hits 52 week low on poor Q4 results

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Siemens has declared fourth quarter results. Its Q4 net profit was down by 29 per cent at Rs 178 crore, YoY. Its net sales were up by 19 per cent at Rs 3,559 crore, YoY.

For the full year ended September 30, 2011, Siemens Ltd. registered sales of Rs 11,941.9 crores, a growth of 28 per cent over financial year 2010. Both New Orders and Order Backlog during the year were stable at Rs 12,288.6 crores and Rs 13,921.3 crores respectively. Profit after Tax (PAT) also remained stable at Rs 845.4 crores, up by 2 per cent due to completion of large projects.

For the fourth quarter ended September 30, 2011, Siemens Ltd. registered Sales of Rs 3,558.6 crores, a growth of 19 per cent over last year, while Profit after Tax was down by 29 per cent to Rs 178.1 crores primarily due to Exchange Loss of Rs 158.6 crores.

All three sectors recorded notable sales growth figures, with industry growing by 12 per cent, energy by 42 per cent and healthcare by 39 per cent as compared to the previous financial year.

Commenting on the results, Dr Armin Bruck, managing director, Siemens Ltd, said, “in spite of difficult economic conditions in the country, our new orders and order backlog remained steady, and the overall financial results for the year compares positively against 2009-10 when we booked large orders in the Fossil & Transmission Divisions.”

“Our focus is on sustainable growth, innovation and environmental solutions. The goal is to expand our manufacturing presence in India. Along with leveraging our strong presence in the high-end technology segment, we will also build on our SMART base-level strategy, expand manufacturing capacities, upgrade our factories and attract talent as an employer of choice,” he added.

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