Siemens hits a new high
Siemens has hit a new high today at Rs.1558, rising 4% over yesterday’s close of Rs.1495.95. Volumes are robust, rising from 24,000 shares over 2-week average to 85,000 shares getting traded today morning.
The market is reacting positively to the third quarter ended 30th June 2015 (year ending on 30th Sept). Net profit showed a massive 13 times surge, from Rs.13 crore in previous Q3 to Rs.168 crore in current Q3. But this surge is more pronounced on account of the lower base effect – in previous Q3 its expenses had been huge where the company has posted a loss at EBITDA levels. Total costs, in previous Q3 were over 100% of total income earned and in current Q3, it was at 92%. QoQ, net profit showed a 4% rise. Total income at Rs.2376 crore, which was flat, compared to Rs.2374 crore in previous Q3.
EBITDA came in at Rs.253 crore, up almost 5 times and EBITDA margin was at 10.8% v/s 2.2%. The company said that it has got new orders worth Rs.2234 crore v/s 2732 crore, down 18% (YoY) as order inflows into the energy sector has not yet picked up.