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For the first quarter ended December 31st 2007, Sales Turnover increased by 18% to Rs. 19,144 million as compared to the corresponding period in the last year. Profit After Tax (PAT) stood at Rs. 1,971 million, an increase of 101% over the corresponding period in the previous year. The company’s continued focus on the base business drove the results.
For the first quarter ended December 31, 2007, Sales Turnover increased by 18% to Rs. 19,144 million as compared to Rs 16,269 million for the corresponding period in the previous year. The major contributors were Power, Automation & Drives and Industrial Solutions & Services businesses.
New Orders intake stood at Rs. 19,120 million as compared to Rs. 51,275 million in the corresponding period of the previous year. After adjusting the large order worth Rs. 36 billion won for the development of Power Transmission Network in Qatar in the comparable quarter of the last fiscal, the Order value rose by 25%.
The Profit Before Tax for the quarter ended December 31, 2007, increased by 98% and stood at Rs. 2,789 million as against Rs. 1,406 million recorded during the corresponding period in the previous year. The Profit after Tax increased by 101% to Rs. 1,971 million over Rs. 981 million in the same period of the previous year. The Power, Automation & Drives and Industrial Solutions & Services businesses drove the profitability.
The Company’s Unexecuted Order Value position as of December 31, 2007 was Rs. 93,686. (Last fiscal: Rs. 110,264 million). As of December 31, 2007, Siemens Ltd. Had 6,000 Employees (As of December 31, 2006: 6,117). This is in view of the fact that Building Technologies business was carved out into a separate legal entity namely Siemens Building Technologies Pvt. Ltd. and the Automotive business was sold to Continental AG.
Commenting on the Q1 result, Dr. Armin Bruck, Managing Director, Siemens Ltd. said, “We have continued to grow strongly with our base business in the first quarter and our profit margins have improved significantly. Overall, our first quarter results have been satisfactory and this puts us in a good position to sustain our growth plans.”
He further added, “I have been in India for six months now and am amazed at the phenomenal economic growth witnessed by the country. Siemens is in a very good position to take advantage of the market opportunities with its unique and comprehensive portfolio, strongly supported by local manufacturing capabilities and domain know-how. We will continually enhance capacities and resources to support our growth strategy. A renewed focus on the sectors of Industry, Energy and Healthcare will give us an added advantage in the market to participate in the huge opportunities that lie ahead.”
Siemens Ltd is the flagship listed company in India. Siemens in India, which comprises of 19 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs 11,000 crores. It operates in the core business areas of Energy, Industry Transportation, Healthcare, Information Technology, Communication and Lighting. It has nation-wide Sales and Service network, 18 manufacturing plants and a network of around 500 channel partners and employs more than 18,000 people.