Siemens profit shoots up 67% y-o-y led by other income
MUMBAI: Although Siemens net sales for the first quarter ended December 2008 declined by 14 per cent to Rs 162894.55 million against Rs 191442.59 million year ago, net profit soared 67 per cent to Rs 33058.04 million as against Rs 19705 million previous year. The company’s operating profit increased by 8.86 per cent to Rs 15210.07 million, as against Rs 13972.10 million in 2007. Other income for quarter ended December 2008 surged by 14274 per cent to Rs 22328.81 million as against Rs 155.34 million posted in the same quarter last year.
Company’s other income for the quarter ended December 31, 2008 included dividend income of Rs 21126.50 million from Siemens Information System and Rs 1168.09 million from Siemens Information Processing Systems Pvt Limited.
On January 9, 2009 the board of Siemens Limited approved the sale of company’s investment
in the equity shares of Siemens Information Systems, a wholly owned to the subsidiary of Siemens AG.
On NSE at 3 pm, Siemens was trading at Rs 209, up 6.12 per cent from previous close.
source: Economictimes
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