Siemens Sees 38.7% Increase In Net Profit In March Quarter
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Siemens Sees 38.7% Increase In Net Profit In March Quarter

Siemens reported a 38.7 per cent increase in its net profit to Rs 471.1 crore in the quarter ended March 2023, as compared to a net profit of Rs 340 crore in the corresponding quarter of the previous fiscal year. The company’s financial year runs from October to September.

In the same period, revenue from operations increased by 14.3 per cent to Rs 4,857.8 crore, up from Rs 4,230 crore in the same quarter of the previous year. Operating profit, calculated as earnings before interest and tax, depreciation and amortisation (EBITDA), increased by 17.2 per cent to Rs 621.2 crore from Rs 530 crore, while margins were 12.8 per cent.

The board of directors re-appointed Sunil Mathur as the managing director and chief executive officer of Siemens for an additional five-year term beginning 1 January 2024, based on the recommendation of the nomination and remuneration committee (NRC).

Daniel Spindler was also re-appointed as the executive director and chief financial officer of the company for an additional one-year term beginning 1 August 2023.

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