Siemens announces 14% increase in revenue for Q3FY2023

09 Aug 2023 CW Team

For the third quarter of Financial Year 2023 ended June 30, 2023, Siemens registered a profit after tax at Rs 424 crore, an increase of 43.4% over the same period last year. Revenue was at Rs 4,407 crore, a 14% increase over the same quarter in the preceding year.

The company’s new orders stood at Rs 5,288 crore, a 5.9% increase over the same period last year. The base business has increased by 10.9%, whereby advance orderings in our short-cycle product businesses still had some adverse impact.

Sunil Mathur, MD and CEO, Siemens, said, “We continue to see consistently strong performance across all our businesses with a healthy mix of orders from both the government and private sector, especially in infrastructure and railways. As delivery periods and supply chain issues start improving, volumes are beginning to normalise.”

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