Siemens has booked new orders worth Rs.5,300 crore during the October-December quarter of 2021.
In a release, Siemens said that new orders from continuing operations stood at Rs.5,300 crore during the October-December quarter of 2021, which was 65.3 per cent higher than the comparable level of 2020.
The company’s outstanding order book position, as of December 31, 2021, stood at a healthy Rs.15,575 crore, Siemens said.
It may be noted that Siemens’ accounting year runs from October 1 to September 30. The October-December 2021 period therefore refers to the first quarter (Q1) of fiscal year FY22.
Strong growth
According to Sunil Mathur, Managing Director & Chief Executive Officer, Siemens Ltd, “All our businesses demonstrated very strong growth. New orders booked in the quarter included approximately Rs.900 crore booked for the electrical and mechanical system works of the Pune Metro Rail Line 3 corridor from Hinjewadi to Shivajinagar. The Company is executing this order as part of a consortium, together with Siemens AG, Siemens Mobility GmbH and Alstom Transport India Ltd. While Revenues were marginally impacted due to delays in offtake by customers on account of COVID-19 and supply chain challenges resulting from global shortage of semiconductors, profit was impacted due to continuing increases in commodity prices and lower Forex gains than in the previous year. However, we continue to be cautiously optimistic about the increase in demand across all our businesses.”
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Clear direction
On Budget 2022, Mathur commented, “We welcome the increased capex outlay of Rs.7.50 lakh crore. With the continued focus on driving infrastructure growth in the country, a commitment to energy transition and sustainability and a clear direction on adopting technologies of the future, the Budget is directionally consistent and represents steadiness, continuity and predictability in Government policy making.”
Featured photograph (source: Siemens) is for illustration only