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Siemens share rises 12% post September quarter earnings

Share of Siemens hit an intraday high of Rs 1525.25, rising 11.95% on BSE

twitter-logoBusinessToday.In | November 26, 2020 | Updated 16:17 IST
Siemens share rises 12% post September quarter earnings
Siemens share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Siemens share rose 12% in trade today after the firm reported Q2 earnings for the current fiscal. Share of Siemens hit an intraday high of Rs 1525.25, rising 11.95% on BSE.

The stock opened with a gain of 6.06% at Rs 1445 today. The stock has gained after 5 days of consecutive fall.

Siemens share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Later, the share closed 11.63% or Rs 158.50 higher at Rs 1520.90 on BSE.

In one year, the share has gained 1.24% and risen 0.89% since the beginning of this year. In one month, the share has gained 18.14%.

Siemens reported a 4.7 per cent fall in net profit at Rs 333 crore September quarter mainly on higher expenses due to lockdown. Revenue from continuing operations fell 9.2 per cent to Rs 3,422 crore over the corresponding quarter of the previous year.

Motilal Oswal  said, "EBITDA rose 6% YoY to Rs 450 crore, 54% above our estimate. The EBITDA margin came in at 12.9% (up 180 bps YoY), largely led by a 210 bps YoY expansion in gross margins."

The company follows October-September financial year.

During the quarter, new orders from continuing operations grew 8.7 per cent at Rs 3,220 crore as compared to the year-ago period,. The company has a strong order backlog of over one year's revenue, partially on account of the period of lockdown in the country, which resulted in reduced revenues.

The board recommended a dividend payment of Rs 7 per equity share of Rs 2 each.

Share Market Highlights: Sensex ends 431 points higher, Nifty at 12,987; Bajaj twins, HCL Tech top gainers

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