Siemens net profit up 17.5 per cent; to pursue mergers
27 Nov 2009
However, total income declined to Rs9,360.60 crore for the year ended September against Rs9,739.50 crore in the previous year, Siemens said in a filing to the Bombay Stock Exchange.
The company operates in the energy, lighting, and healthcare sectors. The board of directors at its meeting held today proposed a dividend of Rs5 per share for the year ended 30 September.
The board has also approved acquiring the balance 13.85 per cent stake (5.17 lakh shares) in Chennai-based Siemens Building Technologies from Anand Mecheri, Rajeev Mecheri and Avnish Gupta for Rs70 crore; pursuant to which Siemens Building Technologies would merge with Siemens.
The proposal is subject to necessary approvals. The board of Siemens Healthcare Diagnostics, a part of Siemens, would meet on 30 November to consider amalgamation of Siemens Healthcare Diagnostics with Siemens, it said.