Siemens records sales turnover increased by 13 percent

Siemens has announced its half yearly results. For the six months of the fiscal 2002-03 ended March 31, 2003, sales turnover increased by 13 percent to Rs 68.82 crore as compared to Rs 61.12 crore in the corresponding period of the previous year.

The major contributors to the sales turnover were the automation and drives, power and healthcare businesses, whereas, the transportation systems business registered growth in excess of 60 percent. For the quarter ended March 31, 2003, the sales turnover stood at Rs 38.97 crore, an increase of 11 percent as compared to the same quarter in the previous year.

The profit before tax for the six months ended March 31, 2003 was Rs 10.37 crore as against Rs 66.2 crore in the corresponding period of the previous year. This includes, besides a compensation of Rs 2.9 crore received on account of property accruals, a special a one time amount of Rs 25.6 crore received and booked as per contractually agreed terms against a cancelled order in the Q1 of the year. 

Even so, without this large one-off effect, the profit before tax for the quarter ended March 31, 2003 was Rs 52.4 crore as against Rs 39.5 crore in the corresponding period of the previous year, registering a rise of 33 percent.

Correspondingly, the net profit after tax for the half year ended March 31, 2003 stood at Rs 70.4 crore as compared to Rs 45.6 crore for the corresponding period in the previous year, registering a rise of 54 percent. For the quarter ended March 31, 2003 the net profit stood at Rs 36 crore which rose by 43 percent over the first quarter in the previous year. As of March 31, 2003, Siemens Ltd. had 3,865 employees as against 4,039 employees in the same period of previous year.

Cyber News Service