Siemens Ltd registered 44.3 per cent rise in new orders at Rs 3,224.25 crore in the third quarter of FY16, as compared to Rs 2,234.08 crore in Q3’15. Revenues increased by 10.4 per cent at Rs 2,563.13 crore in Q3’16 compared to Rs 2,322.01 crore in Q3’15. However, profit after tax was lower at Rs 130.03 crore in Q3’16 compared to Rs 168.26 crore in Q3’15, due to one-time costs and adverse exchange rates. As of July 1, 2016, the healthcare undertaking of the company has been sold and transferred as a going concern on a slump sale basis to Siemens Healthcare Private Limited, a subsidiary of Siemens AG. The gain on the sale will be reflected in the quarter ending September 30, 2016. The company also declared a special dividend (interim dividend) of Rs 27.50 per equity share of Rs 2 each for FY15-16. According to Sunil Mathur, MD & CEO, Siemens Ltd, the company has delivered a satisfactory financial performance in a difficult economic environment and new orders have continued to flow from railways and T&D projects though private sector capex is still muted.
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