Siemens in the red

about 2 days ago
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Siemens has been among the top losers on the BSE since the opening bell today. The stock opened 1% lower at Rs.2254 and went down 7% to an intraday low at Rs.2099.40. Its 10% LC is at Rs.2049.30.

The market is disappointed with the Q2FY22 performance after it posted a 21% (YoY) rise in revenue at Rs.4296 crore and net profit came in at Rs.3211 crore, down 4%.

EBITDA was down 250 bps at 10.4% due to higher raw material and logistical costs.

In terms of order, the company saw a 5% increase in new orders at Rs.3378 crore. Order backlog stands at an all time high at Rs.13,520 crore.

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