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Siemens Q4 net profit plunges 75 percent to Rs 624 crore

Siemens Q4 net profit plunges 75 percent to Rs 624 crore

New Delhi: Siemens reported a sharp 74.94 percent decline in standalone net profit at Rs 623.77 crore for the fourth quarter to September on account of lower exceptional income.

The company, which follows October to September financial cycle, had reported a net profit of Rs 2,489.62 crore in the same period last fiscal.

Its total income fell 2.54 percent to Rs 3,204.8 crore, from Rs 3,288.46 crore earlier, Siemens said in a BSE filing.

During the quarter under review, Siemens reported an exceptional income of Rs 560.3 crore following the sale of a property in Worli in Mumbai. In the September quarter of 2016, Siemens had reported an exceptional income of Rs 2,992.32 crore.
The company announced a dividend of Rs 7 per share for the year to September 2017.

Source: PTI
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