Siemens Limited declares 19% increase in revenue; 74% higher PAT in Q2 FY24

  • Industry News
  • May 15,24
Revenue of Rs 52.48 billion was seen as a 19% increase over the same quarter in the preceding year.
Siemens Limited declares 19% increase in revenue; 74% higher PAT in Q2 FY24

In the second quarter of the financial year 2024, which concluded on March 31, 2024, Siemens Limited recorded revenue of Rs 52.48 billion, marking a notable 19% rise from the corresponding quarter of the previous year. Profit after tax amounted to Rs 8.96 billion, representing 17% of the revenue, and reflecting a substantial 74% surge compared to the same period in the preceding year. Additionally, the company secured new orders totalling Rs 51.84 billion during this quarter.

“The second quarter of fiscal year 2024 showed a robust growth in revenues built off a strong order backlog.  Some large orders have been deferred. There has also been a slowdown in ordering of industrial automation products due to normalisation of demand following shorter delivery cycles. Our growth in profits include volume and price effects, continued productivity measures as also gains on account of sale of property and dividend received from subsidiaries. Overall, our Q2 FY 2024 results reflect the continued robustness in the economy led by Government spending in infrastructure, which has resulted in increased capacity utilisation and the beginning of capacity expansions by the private sector”, stated Sunil Mathur, MD & CEO, Siemens Limited.

Related Stories

Electrical & Electronics
Trane Launches DCDA CDU Series for High-Density Data Centres in Asia Pacific

Trane Launches DCDA CDU Series for High-Density Data Centres in Asia Pacific

Trane Technologies unveils the DCDA series, the first locally developed coolant distribution unit for Asia Pacific data centres, addressing liquid cooling needs for high-density and AI workloads.

Read more
Electrical & Electronics
Low-Cost IoT Device Enables Real-Time UPS Monitoring at IIIT-H

Low-Cost IoT Device Enables Real-Time UPS Monitoring at IIIT-H

Born from a campus IT challenge, IIIT-H researchers have developed Rs 2,000 IoT device that monitors UPS performance during power outages with near-second accuracy.

Read more
Aerospace Defence
Defence budget hits record high with push for modernisation, self-reliance

Defence budget hits record high with push for modernisation, self-reliance

Record defence allocation boosts modernisation, domestic industry, veterans’ healthcare and R&D in India’s Budget 2026–27.

Read more

Related Products

Integrated Electric Gripper S Series

ELECTRICAL & ELECTRONIC EQUIPMENT

IBK Engineers Pvt Ltd offers a wide range of integrated electric gripper S series.

Read more

Request a Quote

Geared Electric Motors

ELECTRICAL & ELECTRONIC EQUIPMENT

Delco Fans Pvt Ltd offers single phase capacitor run and three phase geared Instrument motors, totally enclosed face/foot mounted.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016