Siemens Q1 FY19 results: Revenue up by 15.7% at Rs 2,734 crore

The German conglomerate Siemens Ltd. announced its Q1 FY19 results on Wednesday evening.

Siemens reported a 15.7% growth in revenue at Rs 2,734 crore. Source - Reuters.

The German conglomerate Siemens Ltd. announced its Q1 FY19 results on Wednesday evening. On the back of company's digitalization initiatives gaining momentum, Siemens reported a 15.7% growth in revenue at Rs 2,734 crore and a 19.7% growth in Profit after Tax of Rs 228 crore for the first quarter of Financial Year 2019 as compared to the corresponding quarter of the previous year.

The company said that during this period, new orders of base business (less than Rs. 100 crore) grew by 16% in the quarter, the overall New Orders grew by 4.1% to Rs. 3,391 crore, compared to Rs. 3,257 crore in the first quarter of Financial
Year 2018.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd, said that the company aims to recieve positive responses even in future. "Our businesses with Industrial and Utility customers have grown well and we continue to receive very positive responses to our digitalization solutions," he said.

The standalone revenues increased by 15.5% yoy to Rs 2,807.1cr in Q1FY19 vs. Rs 2,429.5cr in Q1FY18, 1.7% ahead of consensus estimates. The operating profit also grew 12.5% yoy to Rs306.5 cr for the current quarter, 2.1% higher than the consensus estimates.

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