Siemens : announces Q3 FY 2024 results; 7% increase in Revenue, 25% increase in PAT

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Press Release09 August 2024Siemens AGMumbai

Siemens Limited announces Q3 FY 2024 results;7% increase in Revenue, 25% increase in PAT

• Strong performance with improved profitability

• Strong performance with improved profitability

For the third quarter of Financial Year 2024 ended June 30, 2024, Siemens Limited registered Revenue at Rs. 4,714 crore, an increase of 7% over the same quarter in the previous year. Profit after Tax stoodat Rs. 531 crore, an increase of 25% compared to the same period last year. The Company's New Orders stood at Rs. 6,245 crore, an increase of 18% over the same period last year.

Sunil Mathur, Managing Director and Chief Executive, Office Siemences Limited, said "All our businesses performed well in the quarter with robust growth in revenue and profitability. The strong performance came off a high-quality order backlog that we continue to deliver diligently. While Order Income continues to be strong in our Smart Infrastructure, Mobility and Energy segments, we continue to experience weak Order Intake in the Digital Industries segment. However, we believe that our gomerment Capex in Infrastructure, demand for our products and solutions will continue to remain strong."

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Siemens Limited is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for people. Siemens Limited is the flagship listed company of Siemens AG in India. As of September 30, 2023, Siemens Limited had Revenue from continuing operations of Rs. 17,701 crore and 8,888 employees. Further information is available on the Internet at www.siemens.co.in.

Forward-looking statements: "This document contains forward-looking statements based on beliefs of Siemens' management. The words 'anticipate', 'believe', 'estimate', 'forecast', 'expect', 'intend', 'plan', 'should', and 'project' are used to identify forward looking statements. Such statements reflect the company's current views with respect to the future events and are subject to risks and uncertainties. Many factors could cause the actual result to be materially different, including, amongst others, changes in the general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services, and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend to assume any obligation to update these forward-looking statements."

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Siemens Limited, Media Relations

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