Siemens posts Rs 266 cr net profit in Dec qtr

New Delhi, Feb 11 () Siemens Ltd on Tuesday said its consolidated net profit rose 15 per cent to Rs 265.8 crore for the quarter ended on December 31, 2019, mainly on account of reduced expenses.

The company had posted a net profit of Rs 230.9 crore in the year-ago period, Siemens said in a BSE filing.

The company follows October-September financial year.

Total income for the period under review stood at Rs 2,771.9 crore as against Rs 2,914.3 crore in the year-ago-quarter.

Expenses during the December 2019 quarter were at Rs 2,414.5 crore as compared to Rs 2,569.2 crore in same period last year.

"The company's order backlog stands at a healthy Rs 12,430 crore," the filing said.

"Capex ordering, particularly in the infrastructure segments continues to be muted while the slowdown in the automotive segment is impacting our industrial business as well. The recent announcement by the government of the National Investment Pipeline will go a long way in reviving demand and we look forward to its speedy implementation," Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd, said. ABI RUJ