Siemens (PK) (USOTC:SIEGY)
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2 Months : From Feb 2020 to Apr 2020
By Kosaku Narioka
Siemens Ltd. said Tuesday its first-quarter net profit rose 15% from a year earlier thanks to greater earnings from its digital and mobility businesses.
Net profit for the quarter ended December rose to 2.66 billion Indian rupees ($37.3 million) from INR2.31 billion a year earlier, the Indian unit of Germany's Siemens AG said. That matched the estimate of INR2.66 billion from a FactSet poll of analysts.
Operating profit more than tripled for its digital-industries business from a year earlier and its mobility business swung to an operating profit, while that of its gas and power business dropped 52%.
First-quarter revenue decreased 4.9% to INR27.72 billion from INR29.14 billion a year earlier.
Write to Kosaku Narioka at firstname.lastname@example.org
(END) Dow Jones Newswires
February 11, 2020 05:33 ET (10:33 GMT)
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