Siemens Registered 10.4% Growth in Q4 2017 in New Business

For the fourth quarter of Financial Year 2017, New Orders grew by 10.4% to Rs. 2,704 crore compared to Rs. 2,450 crore in the fourth quarter of Financial Year 2016, while Profit before exceptional items and tax were up by 10.5% to Rs. 328 crore compared to Rs. 297 crore in the fourth quarter of Financial Year 2016. Revenues were down by 2.4% in the quarter including effect of transition to Goods and Service Tax (GST) from Excise Duty  (comparable growth of 1.8%).

For the Financial Year 2017, Siemens Ltd. reported 26.4% increase in New Orders from continuing operations at Rs. 13,501 crore compared to Rs. 10,677 crore in Financial Year 2016. Revenue from continuing operations, which was based on a strong order backlog, was at Rs. 11,060 crore, 13.9% higher than Rs. 9,708 crore in Financial Year 2016.

The Company’s Profit before exceptional items and tax from continuing operations increased by 22% to Rs. 1,102 crore in the Financial Year 2017 compared to Rs. 903 crore in the Financial Year 2016. The Earning Per Share (EPS) before exceptional items from continuing operations stood at Rs. 19.80, a 19.2% increase over the EPS of Rs. 16.61 in Financial Year 2016.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd., said, “The Company delivered yet another strong performance. All Divisions contributed to the strong growth. We continue to focus on winning projects where the government thrust on spending is high, while addressing the digitalization opportunities in the market.”