Read more about Siemens Q1 PAT up 10% YoY to Rs 290 cr on Business Standard. Siemens reported 10.4% rise in standalone net profit to Rs 290 crore on a 15.9% increase in net sales to Rs 2858.20 crore in Q1 December 2020 over Q1 December 2019.
Siemens on Friday posted an over 11 per cent jump in consolidated net profit at Rs 295.5 crore for the December quarter, mainly on the back of higher revenues. The company had reported a consolidated net profit of Rs 265.8 crore in the quarter ended December 2019, it said in a regulatory filing. Total income of the firm rose to Rs 2,983.3 crore in the quarter from Rs 2623.9 crore in the same period a year ago. The company follows the October to September financial year. Sunil Mathur, managing director and chief executive officer, Siemens Ltd, said: Our strong and resilient performance reflects the continued uptick in the economy and is led by our short cycle Digital Industries business and a large order in our Mobility business. We are seeing a slowing down in the Energy Transmission business resulting from delays in retendering of Tariff Based Competitive Bidding (TBCB) projects.
Budget 2021: DFI, FPI investment in REITs; Infrastructure push a welcome step to spur economy
The Union Budget for 2021-22 admirably rises to the challenge of creating an enabling environment to deliver on the promise of National Infrastructure Pipeline in the next few years
Ramanuj Kumar | February 2, 2021 | Updated 11:25 IST
Capex allocation for infrastructure is increased by 34.5% over the revised budget estimates (RE) for FY21
Even in an ordinary year, presenting a Union Budget that meets the expectations of experts, investors and common man and stimulates investment and employment generation is a hard feat to achieve.
The Union Finance Minister Nirmala Sitharaman s task in the current year to present the budget for FY22 was made incredibly tough by the COVID-19 pandemic which has caused a massive shortfall in revenue collection and deserved demand for increased allocation for healthcare, informal sector, MSME sector and a multitude of others.
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