Siemens Energy India March qtr net profit grows 36 pc to ₹246 cr
It had reported ₹ 180.5 crore profit for the second quarter a year ago. The company follows October to September as financial year.
In March quarter, the company reported a total income of ₹ 1,893.9 crore, up from ₹ 1,196.8 crore in the year-ago period.
Revenues from transmission rose to ₹ 1,013.8 crore from ₹ 604.9 crore in January-March 2024. Revenue from generation grew to ₹ 865.7 crore from ₹ 591.7 crore.
Expenses also shot up to ₹ 1,548.6 crore from ₹ 952.4 crore on account of increased cost of materials consumed and project bought outs and other direct costs.
The company's profit in October-March more than doubled to ₹ 477.8 crore from ₹ 180.5 crore earlier.
SEIL is an energy technology company. Shares of the company got listed on the stock exchanges on June 19 after the demerger of energy business of Siemens Ltd.
"With this listing, we reaffirm our long-standing commitment to India's energy future. As India advances toward becoming a USD 7 trillion economy, a strong and resilient energy system will be essential. SEIL, with its dedicated team, is ready to support this important journey for India and its people,"
company's MD and CEO Guilherme Mendonca said.
In December 2023, Siemens Ltd said its board has approved the demerger of its energy business into a separate entity.
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