Siemens Limited announces Q4 FY 2020 results, Recommends dividend of Rs.7/- per equity share of Rs. 2/- each

For the quarter July-September of Financial Year 2020, New Orders from continuing operations grew by 8.7% over the prior year and stands at Rs. 3,220 crore. Siemens Limited registered a Revenue from continuing operations of Rs. 3,422 crore, a 9.2% decrease over the corresponding quarter of the previous year. Profit from Operations from continuing operations improved from 10.0% to 11.4% of Revenue for the corresponding quarter. The Net Profit after Tax from continuing operations decreased by 4.7% to Rs. 333 crore, compared to the same period of previous year.

The Company has a strong Order Backlog of over one year's Revenue, partially on account of the period of lockdown in the country, which resulted in reduced Revenues. The Profit was impacted due to expenses incurred during the lockdown period amounting to Rs.285 crores.

At its Board Meeting held today, the Board recommended a Dividend payment of Rs.7 /- per equity share of Rs. 2/- each.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, "A major part of the Financial Year 2020 was impacted on account of the Covid-19 pandemic. However, despite the volatility in the business environment with core industrial sectors being negatively impacted, there are now initial signs of an uptick across some market segments post lockdown. Increased Government spending in Infrastructure is critical at this time which will have a cascading impact for a sustained revival in Demand.

Our focus continues to be on profitable growth in our Energy, Industry, Infrastructure and Mobility businesses. We see increased interest in our Technological and Digitalization solutions across all our businesses and are working closely with our customers in these areas to support them by adopting the latest technologies, solutions and services."

Shares of SIEMENS LTD. was last trading in BSE at Rs.1362.4 as compared to the previous close of Rs. 1392.65. The total number of shares traded during the day was 20855 in over 1414 trades.

The stock hit an intraday high of Rs. 1413 and intraday low of 1357.55. The net turnover during the day was Rs. 29124660.

Source : Equity Bulls

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