Siemens surged by 8% after positive Q4 results

Siemens declared its Q2 FY2024 results on 14th May which led the company’s shares to surge by 8% on Wednesday, reaching a 52-week high of Rs. 7240.

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The company reported a 70.20% increase in its net profit at Rs. 803 cr from Rs. 472 cr in March 2023.

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The major reasons behind these results are an improvement in the company’s revenue mix, an increase in pricing, and increased productivity.

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Its revenue from operations for the March quarter increased at an 18.38% YOY rate reaching Rs. 5750 cr. Its EBITDA stood at Rs. 878.20 cr for the same period, growing at a 41% YOY rate.

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Siemens shares were trading in a range of Rs. 6926.00 to Rs. 7240.00 on Wednesday from the previous closing of Rs. 6660.45.

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It is to be noted the company follows October to September as the Financial Year.

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Siemens surged by 8% after positive Q4 results

Siemens declared its Q2 FY2024 results on 14th May which led the company’s shares to surge by 8% on Wednesday, reaching a 52-week high of Rs. 7240.

Share hike

The company reported a 70.20% increase in its net profit at Rs. 803 cr from Rs. 472 cr in March 2023.

Net profit

The major reasons behind these results are an improvement in the company’s revenue mix, an increase in pricing, and increased productivity.

Driving force

Its revenue from operations for the March quarter increased at an 18.38% YOY rate reaching Rs. 5750 cr. Its EBITDA stood at Rs. 878.20 cr for the same period, growing at a 41% YOY rate.

Financials

Siemens shares were trading in a range of Rs. 6926.00 to Rs. 7240.00 on Wednesday from the previous closing of Rs. 6660.45.

Share price

It is to be noted the company follows October to September as the Financial Year.

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