Siemens Q3 Down 23 per cent To Rs 130 Crore: Shares Gain On Dividend Announcement

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Siemens reported 23 per cent decline in its net profit for the quarter ending June 30, 2016 weighed by one-time costs and adverse exchange rates.

"Profit after Tax was lower at Rs 130.03 crore in Q3 2016 (April-June, 2016) compared to Rs 168.26 crore in Q3 2015, mainly due to one-time costs and adverse exchange rates ," Siemens said in a release.

Siemens Q3 Down 23 per cent To Rs 130 Crore: Shares Gain On Dividend Announcemen
Siemens: Quotes, News
BSE 1129.90BSE Quote5.65 (0.50%)
NSE 1131.85NSE Quote4.7 (0.42%)

The Company also declared a Special Dividend (Interim Dividend) of Rs. 27.50 per equity share of Rs. 2/- each for the FY 2015-16.

Shares of the Siemens rose after the company announced a special dividend and were seen trading at Rs 1265, higher by 0.82 per cent on BSE at 12.10 pm IST. It touched an intra-day high of Rs 1291 during trade.

The company registered 44.3% higher new orders at Rs. 3,224.25 crore compared to Rs. 2,234.08 crore in third quarter of Financial Year 2015. Revenues were higher by 10.4 per cent at Rs 2,563.13 crore compared to Rs 2,322.01 crore earlier. 

As of July 1, 2016, the Healthcare undertaking of the Company has been sold and transferred as a going concern on a slump sale basis to Siemens Healthcare Private Limited, a subsidiary of Siemens AG. The gain on the sale will be reflected in the quarter ending 30th September, 2016.

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