Stock market gives thumbs up to Siemens’ strong performance in Q2

Photo: Bloomberg

Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company’s year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).

The reported growth in revenue and profit after tax (PAT) was 18 per cent year-on-year (Y-o-Y) and 70 per cent (YoY), respectively. Margin expansion was due to an improved revenue mix, pricing gains and productivity measures. Given a strong demand