The major contributors to the sales turnover were the automation and drives, power, and healthcare businesses, whereas the transportation systems business registered a strong growth of 50 per cent.

For the quarter ended 30 June 2003, the sales turnover remained relatively steady at Rs 2,995 million as compared to Rs 3,027 million in the same quarter of the previous year.

The company received new orders valued at Rs 11,805 million for the nine months ended June 2003 as compared to Rs 8,571 million in the corresponding period of the previous year, registering a substantial rise of 38 per cent.

The growth drivers were the power transmission and distribution and transportation systems businesses, whereas the automation and drives segment was the largest volume contributor. The new orders inflow for the quarter ended June 2003 was Rs 3,920 million as against Rs 2,527 million for the third quarter of the previous year.

The profit before tax for the nine months ended June 2003 was Rs 1,243 million as against Rs 877 million in the corresponding period of the previous year, an increase of 42 per cent. The operating income, after adjustment of non-recurring items, rose by 18 per cent as compared to the same period in the previous year.

However, for the quarter ended 30 June 2003, the profit before tax was Rs 206 million as against Rs 216 million in the corresponding quarter of the previous year. The marginal dip is on account of some planned additional onetime costs booked in the current quarter against the healthcare business, which was not reflected in the previous quarter.

For the nine months ended 30 June 2003, the company posted a net profit of Rs 859 million as compared to Rs 577 million for the corresponding period in the previous year, an increase of 49 per cent. And for the quarter ended 30 June 2003 the net profit stood at Rs 155 million as against Rs 121 million, registering a rise of 28 per cent as compared to the same quarter of the previous year.

The unexecuted order value as of 30 June 2003 stood at Rs 8,347 million (Rs 7,186 million as on 30 June 2002). As of 30 June 2003, Siemens had 3,825 employees as against 3,930 employees for the corresponding date in the previous year.

The board of directors has announced an interim dividend of Rs 3.50 (35 per cent) for an equity share of Rs 10 each. At its meeting in Mumbai today, the board of directors approved the scheme of arrangement for amalgamation of Siemens Building Technologies Pvt Ltd (SBT), a 100-per cent subsidiary of Siemens Ltd, into Siemens Ltd, subject to shareholders'' approval and other statutory clearances. This move is in line with the global decision to integrate these businesses back into the main fold of Siemens.

Says Siemens managing director J Schubert: "Our performance is on track and we expect to meet our targets for the year end. We were successful in enhancing our market shares in most of our business segments due to our persistent focus on providing customised products, solutions and value-added services to our customers.

"The amalgamation of the building technology business, when approved, will strengthen our portfolio, specially in areas like building automation and access controls, fire detection systems as well as ventilation. Siemens worldwide has an excellent position in this area and we will be able to leverage these strengths for the domestic market."

Siemens Ltd, a leading electrical and electronics company, is the flagship of the Siemens group in India, which comprises 10 companies, providing direct employment to over 9,000 persons. Currently, the group has 10 manufacturing plants, a wide network of sales and service offices across the country as well as over 500 channel partners.

The Siemens group in India is a unique player in the field of electrical and electronics engineering, operating in the segments of energy, industry, communication, IT, transportation, healthcare and lighting. The group has the competence and capability to integrate products, systems and services, using multiple high-end technologies together with processes, to offer complete solutions.