InvestorQ : Why were the quarterly numbers of Siemens so disappointing in the Jun-20 quarter?
shrinidhi Rajan made post

Why were the quarterly numbers of Siemens so disappointing in the Jun-20 quarter?

Answer
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Riya Dwivedi answered.
1 month ago


For the Jun-20 quarter, Siemens reported a sharp 59% fall in revenues due to the lockdown. As a result, the company slipped into a net loss of Rs.9.60 crore in the Jun-20 quarter as against a profit of Rs.354 crore in the Jun-19 quarter. Siemens also incurred additional expenditure of Rs.230 crore to restart operations.

Siemens is in the process of renegotiating orders and focusing on improving cost structures. Siemens has a number of sites running with 60% labour even as logistic and supply chains are showing signs of improving. Order inflows were down about 40% in the quarter.