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Siemens has announced a 14% YoY jump in revenues to INR 4,407 crore in Q1FY24. The company’s profit after tax stood at INR 424 crore, an increase of 43.4% over the same period last year.
A press release from the company noted that the new orders stood at INR 5,288 crore, a 5.9% increase over the same period last year. The base business has also increased by 10.9%, whereby advance orderings in short-cycle product businesses still had some adverse impact.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens, noted that the company continues to witness a strong performance across all businesses with a healthy mix of government and private sector orders, especially in infrastructure and railways.
“As delivery periods and supply chain issues start improving, volumes are beginning to normalise,” he added.
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