Siemens Q1 profit boosted by emerging markets

FRANKFURT: Siemens AG , a bellwether of Germany's economy, posted better-than-expected earnings in its first quarter, helped by robust demand from rapidly growing emerging economies.

Europe's biggest engineering conglomerate said on Tuesday net profit from continuing operations -- which excludes units to be spun off -- rose 17 per cent to 1.79 billion euros ($2.44 billion) in the three months to December, driven by businesses sensitive to economic swings.

Analysts in a Reuters poll had on average expected net profit from continuing operations to decline 3.7 per cent to 1.47 billion euros.

Comments

Post a Comment

Popular posts from this blog

Indian OIS nearly steady; mkt awaits fresh cues

MUMBAI: Indian overnight indexed swaps (OIS) were largely steady on Friday as traders sought fresh triggers for further direction. At 1:35 p.m., the one-year OIS rate was at 7.35 percent compared with 7.37 percent at close on Thursday. The benchmark five-year swap was at 7.95 percent, from 7.98 percent on Thursday. Volumes were at 7.75 billion on the central bank's trading platform. "There are no fresh cues currently and there will be concerns on the next fiscal year's borrowing which will keep the pressure on the back end of the curve," said a senior trader at a foreign bank. Traders said they see the one-year OIS rate supported at 7.30 percent and five-year at 7.90 percent levels. The OIS curve has flattened this month with the one-year OIS rising 26 basis poi...
Keep reading

Suzlon posts loss of Rs 253.57 cr for Oct-Dec

NEW DELHI: Hit by notional forex losses, Wind power equipment maker Suzlon today reported a loss of Rs 253.57 for the quarter ended on December 31, 2010. The company had a profit of Rs 14.10 crore in the same quarter last year, a statement said. "... notional forex losses have impacted our reported bottomline due to the significant volatility in the euro- rupee exchange rates," Suzlon Energy Chief Financial Officer Robin Banerjee said. The company's total income came down to Rs 4,494.37 crore for the December quarter compared to Rs 5,608.41 crore in the same period a year ago. Suzlon, for nine months to December, 2010, reported a loss of Rs 1,535.02 crore against a loss of Rs 794.25 crore in the same period last year. Banerjee added, "There has been progress on all financial parameters and we have delivered s...
Keep reading

HIV+ may get medical insurance soon

NEW DELHI: India could soon see a national medical insurance policy for people living with HIV (PLHIV). In a meeting with insurance companies and the Insurance Regulatory Development Agency on February 3, the National Aids Control Organisation (NACO) will press them to make insurance "inclusive and universal for PLHIV". Currently, HIV is excluded from all insurance policies available in the country "violating the national mandate of providing stigma free care and support services". Union health ministry officials said that HIV/AIDS which was earlier regarded as a "incurable disease" has now become a "manageable health problem" and, therefore, should be included in medical insurance policies. "Right now, there are individual health schemes in some states which cover certain healthcare related ...
Keep reading