Siemens Sees Profit Surge with Strategic Growth and Expansion Plans

Siemens reported a 45% increase in net profit for the July-September quarter, reaching Rs 775 crore, thanks to higher revenues. New orders surged by 37%, and revenue grew 11% to Rs 5,894 crore. The company plans a dividend of Rs 12 per share and announced a Rs 100 crore capex for expansion.

Siemens witnessed a remarkable 45% jump in net profits for the July to September quarter, with figures reaching Rs 775 crore. This profit surge is attributed to increased revenues and strategic expansion efforts.

According to the company's statement, Siemens' revenue climbed by 11%, reaching Rs 5,894 crore compared to the same quarter last year. New orders saw a significant rise of 37%, amounting to Rs 6,164 crore.

The board has recommended a Rs 12 per share dividend for the year, and an additional Rs 100 crore has been allocated for expanding the Power Transformer factory at Kalwa. This expansion plans to boost Siemens' product range, aligning with their digital platform and market demand growth strategies.

(With inputs from agencies.)