Siemens slumps 8% on weak show in Sept quarter
NEW DELHI: Shares of Siemens NSE -1.39 % tanked 8 per cent in Thursday’s session as the company reported a 2.6 per cent on-year decline in consolidated net profit in the July-September quarter to Rs 321.6 crore.
The scrip fell to a low of Rs 2,100 as against the previous close of Rs 2,276.40 on the National Stock Exchange.
The company’s disappointing performance in the quarter gone by was primarily on account of a rise in costs of raw materials and logistics, a BSE filing on Wednesday showed. In the same period a year ago, the company had reported a net profit of Rs 330.2 crore.
