Siemens has reported net loss of Rs. 55.7 crore in the fourth quarter ended September 30, 2012, as compared to net profit of Rs. 178 crore in the same quarter last year.
For the period, Siemens registered sales of Rs. 3,269.4 crore, down six per cent than the same period last year. For the financial year ended September 30, 2012, the company’s net profit came down sharply to Rs. 343 crore as compared to net profit of Rs. 845 crore in the previous financial year, down 59 per cent. Siemens follows a financial year beginning October. For the full year the company registered sales of Rs. 12,708.1 crore, up eight per cent over sales of Rs. 11,818.3 crore.
“Our overall results reflect the slowdown in the Indian economy. Higher project costs and un-booked profits due to customers delaying off-take partly affected the company’s profitability. The performance is below our own expectations,” Dr. Armin Bruck, Managing Director of Siemens said.
The board has approved a dividend of 300 per cent (Rs. 6 per share).