Siemens Ltd Q3 up 44.71% to Rs.81.78 Crores

Siemens Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted a net profit after tax of Rs 817.88 million for the quarter ended June 30, 2007 as compared to Rs 565.17 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 10489.62 million for the quarter ended June 30, 2006 to Rs 18196.65 million for the quarter ended June 30, 2007.

The company reported an Earnings Per Share (EPS) of Rs.4.85 for Quarter ended June 30, 2007 compared to Rs.3.35 reported during Quarter ended June 30, 2006.

As disclosed earlier, the Board of Directors of the Company have approved the sale and transfer of the business activities pertaining to the "Information & Communication" segment for which purpose the business has been valued at Rs 580 million as at September 30, 2006 to be suitably adjusted at the date of actual transfer; and the sale and transfer of Automotive segment for which purpose the business has been valued at 1700 million. Both these segments are to be transferred to wholly owned subsidiaries of the parent company, Siemens AG, Germany.

The Board of Directors have approved the transfer of the "Building Technologies" business to a separate company in which the Company holds 77% of the share capital and where the Company has a right to acquire the balance 23% in the future.

The stock closed the day at Rs.1322.15, down by Rs.21 or 1.56%. The stock hit an intraday high of Rs.1357 and low of Rs.1308. The total traded quantity was 93149 compared to 2 week average of 105136.

Source : Equity Bulls

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