For the quarter ended 30 September 2006, Siemens India has reported a standalone net profit of Rs136.75 crore - an increase of 30.91 per cent over Rs104.46 crore reported for the same quarter of previous year. Standalone net sales revenues for the quarter increased 59.91 per cent to Rs1,491.98 crore from Rs933.01 crore.

Operating profits, excluding other income but including other operating income, on a standalone basis went up 34.27 per cent over the previous year quarter. Operating margins as a percentage of net sales revenues declined to 8.34 per cent from 9.94 per cent for the same quarter of previous year.

Input costs went up by a substantial 67.4 per cent over the previous year quarter. Staff costs jumped 79.43 per cent while other operating expenses increased 26.4 per cent.

Other income, excluding other operating income, increased modestly by 8.1 per cent to Rs63.67 crore. Interest income went up substantially to Rs11.61 crore from Rs3.24 crore. Depreciation charges increased 30.59 per cent while tax provisions increased 23.8 per cent over the previous year quarter.

For the financial year ended 30 September 2006, Siemens has reported a net profit of Rs360.11 crore on a standalone basis - an increase of 41.36 per cent over the previous year figure of Rs254.75 crore. Net sales revenues for the year increased 64.1 per cent to Rs4,510.35 crore from Rs2,748.48 crore.

Operating profits, excluding other income, went up by 42.99 per cent over the previous year. Operating margins as a percentage of net revenues declined to 8.96 per cent from 10.28 per cent for the previous year.

Cost of inputs increased substantially by 73.77 per cent over the previous year and led to lower margins. Staff costs were higher by 44.66 per cent and other operating expenses went up by 26.93 per cent.

An increase of 23.69 per cent in other income to Rs108.92 crore and a 70.4 per cent jump in interest income to Rs36.67 crore helped the company to report decent bottom line growth. Depreciation charges were higher by 52.01 per cent while tax provisions went up by 34.16 per cent over the previous year

Consolidated net profits of the Siemens group in India have increased by 27 per cent to Rs391.7 crore from Rs309.2 crore for the pervious year. Consolidated revenues went up by 66 per cent to Rs6,032.3 crore from Rs3,637.9 crore for the previous year.

New M&As
Results are not strictly comparable with previous periods as the company had acquired the switchgear division of Elpro and merger of subsidiaries, Siemens VDO and DDIT.

Siemens India, like all other engineering and capital goods companies, continues to see significant growth in new business. Total order wins during the quarter was Rs1,238.3 crore as compared to Rs852.1 crore for the previous year quarter. New orders for the full year were Rs8,202.5 crore as against Rs4,123.3 crore. Total order wins for the group on a consolidated basis were at Rs10,160 crore for the full year 2005-06 as compared to Rs5,104.5 crore for the previous year.

Last week, the company and parent Siemens AG had announced a large Rs4,000 crore order win from Qatar for a power transmission and distribution project. The order is worth Rs3,600 crore for Siemens India and follows two earlier contracts from Qatar worth a total of Rs2,600 crore.  Siemens India had announced last week that it would divest its entire stake in Siemens Public Communication Networks to an equal JV with Nokia, following the global merger of Siemens's carrier relater operations with the networks business group of Nokia. The company would also sell its enterprise networks division to a subsidiary of parent company Siemens AG as part of a global restructuring of this business by its parent company.