Siemens Profit Falls 10% in Dec Quarter | Business News

New Delhi, Feb 12 (PTI) Siemens on Wednesday said it has posted a 10 per cent decline in its consolidated net profit to Rs 372 crore in the December quarter compared to a year ago, due to lower revenues.

The company had reported a consolidated net profit of Rs 412 crore in the year-ago period, backed by continuing operations, according to a statement.

The company follows the October to September financial year.

Its revenues from operation declined to Rs 3,587 crore in the quarter against Rs 3,710 crore a year ago.

New orders rose to Rs 4,258 crore compared to Rs 3,560 crore in the same period a year ago.

"Our Smart Infrastructure and Mobility businesses, which are largely linked to government spending in capex, continued to grow profitably," Sunil Mathur, Managing Director and Chief Executive Officer of Siemens, said.

However, he said, revenue and consequently also profit from operations for this quarter were impacted by a slowdown in the short cycle private sector capex spending and the normalisation of demand in the digital industries business.

The energy business continued to deliver strong profitable growth during the quarter on continued robust demand for transmission products and solutions, including a favourable one-time impact of Rs 98 crore on profitability, the company said.

Revenue and Profit after Tax for discontinued operations for Q1 FY 2025 (October-December) were Rs 1,431 crore (up 28 per cent) and Rs 243 crore (up 158 per cent), respectively.