Siemens jumps up as results enthuse

Siemens posted a better-than-expected set of numbers for second quarter ended 31^st March 2015 (year ending is 30^th Sept). Though its net sales for the quarter came in 2.5% (YoY) lower at Rs.2589 crore, a 33% surge in other operating income, a 5% fall in costs led by a 18% drop in raw material prices, helped the company shore up its bottomline. Consequently, EBITDA rose 34% at Rs.250 crore and operating margin was up from 6.9% to 9.4%. There was also a hefty 4 times rise in other income. It ended the quarter with a whopping 84% rise in net profit at Rs.162 crore.

Naturally, the market is enthused with this net profit and the stock is currently the top gainer on the BSE, up 2% at Rs.1256.40 with an intra day high at Rs.1281.85.