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Siemens has posted a 126% rise in net profit after exceptional items to Rs 308.6 crore for the quarter ended September 30 helped by forex gains and profit from the sale of a subsidiary. Revenue jumped 43% to Rs 2242.5 crore.
Diromg the quarter, the company earned Rs 150 crore as forex gains and Rs 52.4 crore from the sale of its information and communication business. Without the exception income, net profit jumped 106%
Siemens has been helped by a robust growth in demand for equipment from the power sector, transport, industrial solutions and drives. Indias emphasis on power sector has attracted big interest from private sector utilities. Various state electricity board are also revamping their operations by installing modern equipment in an effort to cut down on transmission and distribution losses.
The companys contracts in power generation, transmission and distribution has earned it Rs 241.9 crore profit in the qurter, registering a seven-fold growth.
The export orders in transmission and distribution have grown drastically with a Rs 4,000 crore order backlog in the segment Exports contributed to 30% of revenue last year and aim to exceed it this year.
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| Posted : 2/27/2008 |
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