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Siemens Q3 net profits rise; stock drops
Siemens has reported a net profit of Rs 65.13 crores for the quarter ended December 31, 2013 as compared to Rs 63.63 crores for the quarter ended December 31, 2012.
Total Income at the engineering giant has decreased from Rs. 2503.07 crores for the quarter ended December 31, 2012 to Rs. 2401.45 crores for the quarter ended December 31, 2013.
The stock of the company was down more than 3 per cent in trade today.
Heavy engineering and capital goods companies have over the last few quarters, suffered from a slowdown in the economy. However, a few capital good companies like Voltas and Crompton Greaves have reported good numbers.
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