Siemens India June Quarter Profit Falls on Higher Expenses, Lower Other Income

Siemens Ltd. posted a 30.4% on-year drop in net profit to ₹3.7 billion for the June quarter as higher expenses and lower other income offset revenue growth. 

Revenue from operations rose 16.2% on year to ₹38.7 billion. Other income fell 23.8% on year to ₹1.1 million, while expenses rose 17.2% to ₹34.8 billion. 

New orders grew 13% to ₹56.8 billion, with an order backlog of ₹428.5 billion, up 8% on year. Nearly all verticals reported revenue growth, but profits in the low voltage motors division fell sharply, weighing on overall earnings.