Siemens reports 29.6% rise in Q2 revenue

For the second quarter of Financial Year 2021 ended March 31, 2021, Siemens Limited registered New Orders from continuing operations of Rs. 3,309 crore, registering a 16.9% increase over the same period last year. Revenue from continuing operations was Rs. 3,298 crore, a 29.6% increase over the same quarter in the preceding year. The Company reported Profit before Tax from continuing operations of Rs. 433 crore, an increase by 94.8% over the same period last year. The Company’s Order Backlog stands at a healthy  Rs. 12,677 crore.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “Order growth has been robust across all our businesses. There has been increased demand in our power transmission, digital grid and distribution systems businesses. Our digital industries segment saw growth in the machine tool and process automation businesses. The March-end quarter demonstrated a steady revival in the economy with both private and public sectors beginning to invest in anticipation of future growth.”

He adds, “The second surge of the pandemic has impacted human lives in an unprecedented manner. A cross-functional Siemens India Task Force Team has been working since March 2020 to coordinate the implementation of concrete measures to support our employees at this difficult time. In addition, the Company is providing testing kits, oxygen concentrators, oxygen generators etc. to hospitals around the country as our small contribution to society.”