Siemens’ net profit dips 2.6% to Rs 321 crore in September quarter

Siemens on Wednesday said its consolidated net profit dipped 2.6 per cent to Rs 321.6 crore in the September 2021 quarter, mainly due to a rise in raw material and logistics costs.

Its consolidated net profit had stood at Rs 330.2 crore in the quarter ended on September 30, 2020, according to a BSE filing.

In a statement, the company said, “Profit after tax from continuing operations decreased by three per cent to Rs 323 crore, compared with Rs 333 crore for the corresponding quarter of the previous year, on account of an increase in raw material and logistics costs.”