Siemens' net profit jumps 36% and revenue by 25% in Q4 FY2023

Siemens Limited, which offers services to automotive and other sectors, reported on Tuesday a net profit of Rs 534 crore during Q4 FY23, which is a 36% jump over the same period last year. The company's revenue during the same period stood at Rs 5,297 crore, a 25% YoY increase. 

As per a statement issued by the company, the new orders stood at  Rs 4,498 crore, registering a 12% increase over the same period last year. Furthermore, the order backlog is Rs 45,518 crore. 

For the financial year 2023, Siemens Limited reported an increase of 139% in new orders, a 21% increase in revenue, and a 53% increase in net profit over the previous financial year.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “The resilient year-on-year performance across all our businesses is representative of the continued growth in capex and digital spending by both the public as well as private sectors. We are confident that we have the right strategies, the right products and the right competencies to deliver real value to our
customers.”

“We are adding capacities in the Power Transformer and Vacuum Interrupter businesses to serve the increasing domestic and global demand for Power Transmission and Power Distribution solutions," he added.

With 31 factories in the country, serving both domestic and global demand, Siemens has the engineering prowess, supplier base and a portfolio that addresses customer requirements across the value chain,” added Mathur.