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“Siemens Ltd. has registered a solid performance in the last nine months and is now fully geared to leverage opportunities presented by the reviving market across all sectors”, said Dr. Armin Bruck, Managing Director, Siemens Ltd.
During the nine months ended on June 30, 2010, the company’s New Orders increased by 52% to Rs. 9,413 crores over the corresponding period in 2009. For the same period, the company’s order backlog significantly increased by 34% to Rs 13,554 crores. All three Sectors of Industry, Energy and Healthcare contributed to the growth in Orders.
For the third quarter ended June 30, 2010, Sales increased by 17% to Rs. 2,235 crores. Sales for the nine month period increased by 7% to Rs 6,314 crores driven by the divisions of the Industry and Healthcare Sectors as well as Distribution and Oil & Gas divisions of the Energy Sector.
During the quarter, the PFO stood at 10% to sales and for the nine month period ending June 30, 2010, the PFO increased to 13% to sales, notwithstanding an impact of Rs. 183 crores (previous period- gain of Rs. 2.4 crores) on account of exchange losses. Commenting on company’s performance, Dr. Armin Bruck, Managing Director, Siemens Ltd. said, “In the last nine months, we have seen a strong growth in our short cycle business, which is contributing to our results. We have a robust order backlog from our long cycle project business resulting in a strong revenue pipeline for our future growth. ”
Siemens Ltd., in which Siemens AG holds 55.18% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India, which comprises 19 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Energy and Healthcare. It has nation-wide Sales and Service network, 21 manufacturing plants, a network of around 500 channel partners and employs about 16,800 people.
Reference Number: SiemensReferenceNumber