Mumbai, India (BBN)-Siemens’s second quarter (January-March) profit after tax is seen rising a whopping 36 percent to Rs 120 crore compared to Rs 88.3 crore in December quarter, according to a CNBC-TV18 poll.
The bottomline may be boosted by strong operating performance but revenue may be muted, reports PTI.
Total income from operations is likely to rise 0.2 percent year-on-year to Rs 2,713 crore in the quarter ended March 2014.
The company follows October-September as its financial year.
Flattish revenue growth may be on account of weak traction in large projects in the energy & industrial businesses, and a lower starting order backlog.
Client related issues in specific projects could pose the risk of muted execution. Don’t miss: L&T Fin asset up in Q4, provisions at Rs 200cr, says Deosthalee.
The market continues to be under selling pressure.
The Sensex is down 160.82 points or 0.6 percent at 27574.20 and the Nifty is down 59.65 points or 0.7 percent at 8338.65.
About 583 shares advanced, 1579 shares declined, and 125 shares are unchanged.
ITC, ONGC, TCS, Sun Pharma and BHEL are top gainers in the Sensex.
Among the losers are Hindalco, Cipla, Axis Bank, Vedanta and HDFC.
Oil prices edged down from 2015-highs reached in the previous session, but prices remained on track for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments.
Crude prices on both sides of the Atlantic have surged almost USD 10 a barrel this month amid rising tension in the Middle East, while slowing US production growth and signs of stronger global demand have also provided support.
The rise in futures prices over the last month shows a growing disconnect between oil producers and Wall Street over when slumping oil prices will recover, with the financial community betting that the oil price cycle may turn more quickly than the industry expects.
