Siemens slips 4% as Q4 profit drops 55%

NEW DELHI: Shares of Siemens tanked 4 per cent in Monday’s trade after the company said its net profit declined more than 55 per cent to Rs 279.20 crore in the September quarter.

The company reported its fourth-quarter numbers on Sunday.

Following the development, the stock fell 3.98 per cent to Rs 939.50 on BSE.

The profit figure in the year-ago at Rs 623.8 crore was aided by an exceptional gain of Rs 560.30 crore. The company follows October-September financial year.

The company said new orders grew by 38.1 per cent to Rs 3,720 crore during the quarter compared with Rs 2,694 crore in the same quarter last year.



The revenue reported for the quarter is Rs 3,802 crore, 24.9 per cent growth compared to the fourth quarter of the financial year 2017," a company statement said.