Siemens Q3 Results: Profit Surges 9%, But Misses Estimates
Siemens' Q3 revenue increased 20.2% to Rs 4,825.2 crore, though it missed estimates of Rs 5,071.2 crore.
Siemens Ltd.'s net profit jumped 9.3% in the third quarter of fiscal 2024, though it missed analysts' estimates.
The company's net profit rose to Rs 505.5 crore in the October-December period as against Rs 462.7 crore reported during the same quarter last year. Analysts tracked by Bloomberg had forecast it at Rs 529.5 crore.
Revenue increased 20.2% to Rs 4,825.2 crore, though it missed estimates of Rs 5,071.2 crore. Cost of materials consumed 35.5% at Rs 1,077.5 crore, in comparison with Rs 795 crore in the previous year.
Siemens India Q3 FY24 Highlights (Consolidated, YoY)
Revenue up 20.2% at Rs 4,825.2 crore vs Rs 4,015.1 crore (Bloomberg estimate: Rs 5,071.3 crore).
Ebitda down 0.5% at Rs 593.04 crore vs Rs 595.9 crore (Bloomberg estimate: Rs 641.8 crore).
Margin narrows 255 bps to 12.29% vs 14.84% (Bloomberg estimate: 12.7%).
Net profit up 9.3% at Rs 505.7 crore vs Rs 462.7 crore (Bloomberg estimate: Rs 529.5 crore).
Shares of Siemens closed 2.2% higher, in comparison with a 0.68% rise in the Nifty 50 on Tuesday.
