Siemens falls to 1 year low on poor Q4 results

The company's stock, which opened on a sluggish note, lost 5.21 percent to witness a 52-week low of Rs 664 on the BSE in early trade.

FP Archives|Dec 20, 2014, 05:19:59 IST

Mumbai:Shares of electronics and electrical engineering firm Siemens plunged by over 5 percent to a one-year low on the bourses today after the company reported a 29 percent year-on-year decline in net profit for the quarter ended September to Rs 178.1 crore.

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The company's stock, which opened on a sluggish note, lost 5.21 percent to witness a 52-week low of Rs 664 on the BSE in early trade. Similarly, the stock shed 5.23 percent to a one-year low of Rs 662.90 on the NSE.

Higher input costs and forex losses resulted in Siemens reporting a 29 per cent decline in net profit for the fourth quarter -the company follows a October-September financial year - to Rs 178.1 crore from Rs 250 crore in the year-ago period.

Siemens, in which Siemens AG holds a 75 percent stake, however, posted a 19 percent growth in total sales to Rs 3,558.6 crore in the fourth quarter, compared to Rs 2,990 crore in the year-ago period.

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