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.
Also Read
Siemens To Acquire Mass-Tech Controls’ EV Division For INR 38 Cr