Siemens has reported a 45 per cent rise in its consolidated net profit for the September-ended quarter of 2024, driven by improved operations and boosted by other income.
 
For the quarter under review, Siemens reported a net profit (attributable to the owners of the company) of Rs 830.7 crore, up from Rs 571.3 crore a year ago. Revenue for the capital goods company rose 11 per cent to Rs 6,461 crore in the same period. Siemens’ other income almost doubled (up 94.6 per cent) to Rs 283.3 crore from a year ago.
 
Sequentially, Siemens' revenue grew 24.2 per cent, while net profit increased by 43.8 per cent.

Siemens exceeded street expectations of Rs 700 crore in net income (adjusted) and revenue of Rs 6,378 crore, as suggested by a Bloomberg poll.
 
The company, at its board meeting, also approved an investment of around Rs 100 crore for power transformers, in addition to the Rs 360 crore investment approved in November 2023.
 
New orders in the quarter, the company said, were up 37 per cent to Rs 6,164 crore from a year ago.