Mumbai, Feb 11 (SocialNews.XYZ) Siemens Ltd on Tuesday reported a 15.1 per cent increase in its consolidated net profit for the quarter ended December on a year-on-year basis at Rs 265.8 crore.
During the same period in the last fiscal (2018-19), the company had reported a consolidated net profit of Rs 230.9 crore.
In a regulatory filing, the company said that its total income during the October-December quarter of financial year 2019-20 was Rs 2,771.9 crore, at 4.9 per cent lower than Rs 2,714.3 crore earned during the correponding period of last fiscal.
A 6.02 per cent year-on-year decline in its expenditure to Rs 2,414.5 crore helped the company increase its profits.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd, said: "Capex ordering, particularly in the infrastructure segments continues to be muted while the slowdown in the automotive segment is impacting our industrial business as well. The recent announcement by the government of the national infrastructure investment pipeline will go a long way in reviving demand and we look forward to its speedy implementation."
Source: IANS
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