Siemens' fourth quarter profit jumped more than 11-fold to Rs 2,467 crore compared with Rs 219.1 crore in year-ago period, driven by stake sale in healthcare undertaking.
Total income from operations during the quarter declined 6.3 percent year-on-year to Rs 3,091 crore while other income shot up 67.8 percent to Rs 68.3 crore.
Earnings missed analysts' expectations. Revenue was estimated at Rs 3,236 crore with EBITDA at Rs 320 crore and margin at 10 percent for the quarter, according to average of estimates of analysts polled by CNBC-TV18.
EBITDA (earnings before interest, tax, depreciation and amortisation) slipped 14.2 percent year-on-year to Rs 241.9 crore and margin contracted by 70 basis points to 7.8 percent in July-September quarter.
Siemens reported an exceptional gain of Rs 2,992 crore for the quarter ended September 2016 on account of sale of healthcare undertaking, against Rs 70.7 crore in same quarter last year.
Profit in FY16 increased 145 percent to Rs 2,873.6 crore and revenue was up 2.6 percent at Rs 10,835.8 crore compared with FY15. Profit before exceptional items declined 1.7 percent to Rs 593.30 cror on yearly basis.
