Siemens Q3 PAT up 85% YoY to Rs 296 crore

The industrial manufacturing company's standalone net profit jumped 85% to Rs 296 crore in the quarter ended 30 June 2022 from Rs 160 crore recorded in the quarter ended 30 June 2021.

For the third quarter of Financial Year 2022 ended 30 June 2022, revenue from continuing operations of Rs 3,865 crore, a 51% increase over the same quarter in the preceding year.

New orders from continuing operations stood at Rs 4,992 crore, registering a 20% increase over the same period last year. The company's order backlog from continuing operations stands at an all-time high at Rs 17,856 crore.

Sunil Mathur, managing director and chief executive officer, Siemens, said, The strong performance was across all our businesses and included a significant order in our mobility business.

While we are currently not experiencing a slowing down in public and private capex spending, we are concerned about global headwinds impacting demand which could result in a slowdown in capex spending.

Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power.

The scrip fell 3.01% to currently trade at Rs 2652 on the BSE.

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