Siemens gains 3%, hits record high on strong operational performance in Q1

Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitization products & services across segments, ICICI Securities said

Shares of Siemens hit a record high of Rs 3,219.90, up 3 per cent on the BSE in Wednesday's intra-day trade, after the company reported 80 per cent year-on-year (YoY) growth in consolidated profit after tax (PAT) at Rs 438 crore on a strong operational performance. The company follows October-September accounting year.

The healthy profit growth was driven by higher volumes, better price extraction, and positive forex & commodity effects. Revenue from continuing operations was up 17 per cent YoY at Rs 3,596 crore.

Ebitda (earnings before interest, taxes, depreciation, and amortization) came in at Rs 599.2 crore