Siemens Energy India on Tuesday posted an over 31 per cent year-on-year increase in its net profit to Rs 360 crore during July-September quarter, mainly on the back of higher revenues. Its net profit stood at Rs 274 crore in the quarter ended September 2024, a company statement said.
'We expect inbound numbers in 2025 to come close to pre-pandemic levels -- if not fully match them -- by early 2026.'
Siemens reported solid results in the July-September quarter (fourth quarter, or Q4) of 2022-23 (FY23), with the top line growing 25 per cent year-on-year (Y-o-Y) to Rs 5,808 crore. The operating profit margin stood at 12.1 per cent, led by lower employee costs and other operating expenses. The company follows the October-September financial year.
Global index provider MSCI has announced the addition of four Indian companies-including Fortis Healthcare and Paytm - to its Global Standard indices. According to Nuvama Alternative & Quantitative Research, each of these companies is expected to see passive inflows exceeding $400 million. Shares of Paytm rose 4.3 per cent on Thursday, while Fortis Healthcare dipped 1.1 per cent.
Global handset major Siemens India Ltd is planning to invest over $500 million in India in the next three to four years for setting up new factories and expanding its existing capacities in the country.
Siemens Information Systems, a business unit of Siemens India, part of German technology giant Siemens is understood to have laid off around 500 people over the last five days.
From X-ray machines to circuit breakers and airport conveyor belts, from signaling systems to switch gears and foetal heart beat monitors - a portfolio of low cost, locally made, no-frills products is helping Siemens reinvent itself.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology (medtech) industry. Among those increasing their reach in the country are Siemens Healthineers and Philips, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
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Globally, the company intends to cut expenses by $7.8 billion by 2014.
Things are looking up for engineering firms and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity, which is expected to continue through the 2023-24 financial year (FY24), the Budget has a strong infrastructure thrust, which works in Siemens' favour. The company reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows the October-September accounting year).
It has 150 research and development locations in over 30 countries around the world, employing over 32,300 people.
Siemens is a leading global firm offering technological and modernisation programmes to metallurgical industry like steel.
Siemens, the global leader in electrical and electronics engineering, inaugurated its new research centre, Siemens Corporate Technology India in Bangalore.
German MNC Siemens on Tuesday announced consolidation of its telecom operations in India by buying out 100 per cent equity stake in its telecom company, Siemens Public Communication Networks Pvt Ltd, for a consideration of Rs 195 crore (Rs 1.95 billi
Both new and completed project values as of December 2024 remain below pre-pandemic levels seen in 2019.
Power systems major Siemens, the Indian subsidiary of German Siemens AG, has decided to divest its 100 per cent stake in Siemens Public Communication Networks
India is a major driver for our global growth. And, we expect the country to play a larger role in our global operations in the future.
Siemens has announced that it will acquire a 77 per cent stake in the Chennai-based iMetrex Technologies that specialises in providing integrated security, fire safety and building automation solutions.
Global telecom equipment maker Nokia Siemens Networks on Monday announced plans to invest US$ 100 million in the country over the next three years to set up a high-end wireless products manufacturing facility in Tamil Nadu, among other initiatives.
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
The M65 and C65 handset models launched in the Indian market are priced at Rs 18,000 and Rs 9,000, respectively, and the S65, priced at Rs 21,000.
With the concept of 'intelligent building' gaining ground in India, real estate developers are vouching for automated building solutions that combines low operational c
The first six months of the financial year (Siemens follows an Oct-Sept calender) has not been encouraging.
Technology major Siemens on Tuesday said it will invest Rs 1,600 crore (Rs 16 billion) in India over the next three years for venturing into wind turbine manufacturing and scaling up existing production capacity.
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