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Hot Pursuit News

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(15 May 2024, 10:34)

Siemens hit life high as Q2 PAT soars 74% YoY; board OKs demerger of Energy biz

Siemens gained 7.41% to Rs 7,146.65 after heavy electrical equipment maker’s net profit jumped 73.72% to Rs 896.4 crore in March 2024 quarter as against Rs 516 crore reported in the same period last year.


Total revenue from operations jumped 19% year on year (YoY) to Rs 5,313.8 crore during the second quarter ended March 2024.

Profit before tax stood at Rs 1,163.3 crore, up 70.65% from Rs 681.7 crore recorded in the corresponding quarter previous fiscal.

The company’s segment revenue from smart infrastructure stood at Rs 1,766.9 crore (up 28.98% YoY), energy business was at Rs 1,637.5 crore (up 5.27% YoY), while digital industries came in at Rs 1,041.9 crore (up 15.99% YoY), mobility was at Rs 715.5 crore (up 55.43% YoY) while portfolio companies revenue stood at Rs 217.1 crore (down 10.47% YoY) during the period under review.

New orders stood at Rs 5,184 crore in the second quarter ended 31 March 2024.

Sunil Mathur, managing director and chief executive officer, Siemens...

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