Siemens sales rise 8%

Our Corporate Bureau
21 July 2003

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.