Siemens announces 14% increase in revenue for Q3FY2023
ECONOMY & POLICY

Siemens announces 14% increase in revenue for Q3FY2023

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.”

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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