Siemens reports strong order inflow of Rs 3,635 crore

The company’s revenue for the quarter grew 9.4 per cent to Rs. 3,461 crore over the corresponding quarter of the previous year.

The company’s major energy management segment, which contributed nearly 38 per cent to the current quarter’s revenue, witnessed 7.6 per cent yoy decline. The digital factory segment registered around 14 per cent yoy growth to Rs 706 crore. Power & gas and mobility divisions recorded growth of 22 per cent and 62.5 per cent yoy, respectively.

Revenues from process industries and building technologies segments were flat at Rs 588.4 crore and Rs. 133 crore respectively.

The company received orders worth Rs 3,635 crore during the quarter, which is 24.3 per cent higher than the quarter ended on March 2018. The company said that its order backlog is at a six-year high.

Siemens’ profit after tax for the quarter surged 27.6 per cent to Rs. 280 crore over the same period last year.

The company’s management is seeing an acceleration in interest and demand from customers for its  digitisation portfolio.