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However, consolidated revenue from operations fell 3.3% YoY to ₹3,587.2 crore, down from ₹3,709.5 crore in Q1 FY24.
The company also saw a decline in operational performance, with EBITDA slipping 11.5% YoY to ₹401 crore from ₹453 crore, and margins narrowing to 11.2% from 12.2% YoY.
“Our Revenue and consequently also our Profit from Operations for this quarter were impacted by a slowdown in the short cycle private sector Capex spending and the normalization of demand in our Digital Industries business,” Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said.Shares of Siemens Ltd dipped after the earnings announcement, trading at ₹5,123.40 on the BSE, down 1.53%, at around 2:47 PM.
“With the announcements in the recent Union Budget, we expect a positive impact on our businesses from the Government’s continued emphasis on building a world-class infrastructure, measures to boost consumption and the increased focus on manufacturing,” he added.
First Published: Feb 12, 2025 3:01 PM IS
