Siemens Ltd Q2FY23 PAT up 38.7% at Rs471 crore on profit boost from Smart Infrastructure vertical

Siemens Ltd reported 27.8% growth in total revenues for the March 2023 quarter on consolidated basis at Rs4,858cr. On a sequential basis, the revenues were up 21%. In terms of verticals, the There was sharp growth across all the 4 major verticals viz. Energy, Smart Infrastructure, Mobility and Digital Industries. Mobility had the best growth rate, but that was on a much smaller base.

In terms of operating profit contribution, the Smart Infrastructure vertical saw operating profits more than double to Rs195 crore while energy and digital industries vertical also saw sharp growth in operating profits. The company enjoyed stable operating margins across most of its product categories. It had a robust order book with new order bookings including the Rs24,455 crore order for 9,000 HP locomotives.

Financial highlights for Mar-23 compared yoy and sequentially

For the March 2023 quarter, operating revenues grew 38.9% while the net profits were higher by 38.7%. Operating margins improved by 89 bps to 11.17% yoy while the net margins also improved 76 bps to 9.7% yoy. Total new orders in the quarter were Rs31,151 crore for the quarter.