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For the third quarter ended June 30, 2007, Sales Turnover stood at Rs. 17,823 million (Rs. 1,782 crore), a healthy rise of 69% over the corresponding period in the previous year. For the same period, Profit After Tax rose to Rs. 818 million (Rs. 81.8 crore), an increase of 45% over the corresponding period of the previous year.
For the quarter ended June 30, 2007, Sales Turnover increased by an impressive 69% to Rs. 17,823 million (Rs. 1,782 crore), as compared to Rs. 10,523 ¬million (Rs. 1,052 crore) for the corresponding period in the previous year. For the nine month period ended June 30, 2007, Sales Turnover increased by 83% to Rs. 55,383 million (Rs. 5,538 crore) as compared to Rs. 30,184 million (Rs. 3,018 crore) for the corresponding period in the last year. All the businesses performed well with Power, Automation & Drives and Industrial Solutions & Services segments being the volume drivers.
The Company received New Orders amounting to Rs. 17,536 million (Rs. 1,754 crore) for the quarter ended June 30, 2007, an increase of 45% as compared to Rs 12,109 million for the corresponding period in the previous year. Whereas, for the nine month period ended June 30, 2007, New Orders jumped by 27% to Rs. 88,288 million (Rs. 8,829 crore) as compared to Rs. 69,642 (Rs. 6,964 crore) for the corresponding period in the previous year. The major contributors were the Power, Industrial Solutions & Services and Automation & Drives businesses.
Profit Before Tax (PBT) rose to Rs. 1,207 million (Rs. 121 crore) for the quarter ended June 2007, an increase of 43% as compared to Rs. 844 million (Rs 84 crore) recorded in the corresponding period of the previous year. For the nine-month period ended June 30, 2007, the PBT stood at Rs. 4,343 million (Rs. 434.3 crore), an increase of 37% over the corresponding period in the previous year. Automation & Drives and Industrial Solutions & Services businesses were the key drivers of the profitability.
For the quarter, the Company’s Profit After Tax (PAT) increased by 45% to Rs. 818 million (Rs 82 crore) over Rs. 565 million (Rs 57 crore) in the same period of the previous year. Whereas, for the nine month period ended June 30, 2007, PAT rose by 29% to Rs. 2,879 million (Rs. 288 crore).
The Company’s Unexecuted Order Value position as of June 30, 2007 was Rs 108,164 million (Rs 10,816 crore), a rise of 40% (As of June 30, 2006: Rs. 77,220 million).
As of June 30, 2007, Siemens Ltd. had 6,466 Employees (As of June 30, 2006: 5,592).
Commenting on the recent developments, Mr. Juergen Schubert, Managing Director, Siemens Ltd. said, “Our investment program is well on track and has started yielding positive returns. We recently acquired a 77% stake in iMetrex Technologies, a strong player in the domains of electronic security and fire safety solutions. This coupled with our strengths in building automation and fire safety systems, makes us the leader in the Building Technologies business. Also, in line with the global decision, our 100% stake in Siemens Public Communication Networks Ltd., which handled the carrier business, was divested and subsequently moved into new entity, Nokia Siemens Networks.
Commenting on the results, he further added, “The third quarter has shown satisfactory results, with growth in all key parameters. Our factories are running at full capacity and our base businesses have grown steadily with a healthy bottom-line. This was further supported by some large projects, particularly in the infrastructure area. As these projects are in different stages of execution, they have varying effects, both on the top line as well as the bottom-line, quarter on quarter. For example, in the last quarter, the profitability of our Power business was impacted due to certain provisions made. Despite this, overall, we have achieved a good result.”
Mr. Schubert further added, “Our continued focus on the neighboring markets has resulted in sustained increase in our export business. Going forward, with the market showing an upward trend, we are optimistic of achieving our set targets for the fiscal.”
Siemens Ltd. is the flagship of the Siemens Group in India. The Siemens Group in India is a leading provider of industry and infrastructure solutions in India with a business volume aggregating about Rs. 9000 crore. It operates in the core business segments of Energy, Industry and Buildings, Information Technology, Communication, Transportation, Healthcare and Lighting. It has nation-wide Sales and Service network, 17 manufacturing plants, some 500 strong network of channel partners and through its 15 companies, the Siemens Group employs around 16,000 people.