Siemens Pakistan earns Rs 779 million profit

Siemens Pakistan has earned a profit of Rs 779 million for the fiscal year 2005 that ended on September 30, up 89 percent as compared to the fiscal year 2004, company Managing Director Sohail Wajahat H. Siddiqui said in a statement here on Tuesday.
He said that Siemens Pakistan Engineering Company Limited has shown growth and has increased its profits. During the period under review the company's profit touched the mark of Rs 779 million, up 89 percent as compared to the previous year.
He said that basic earnings per share rose to Rs 100.44 as compared to Rs 53.10 a year ago.
Profit before tax rose to 62 percent to over Rs 1.2 billion, as all the five business segments increased their profits as compared to the fiscal year 2004.
Information and communication, energy and industry automation and services contributed the loin's share to the result, followed by rotary machines and products and other operations.
Wajahat expressed satisfaction over the results and said that the present economic scenario in the country has helped the Siemens Pakistan in achieving substantial growth and rich rewards for the shareholders.
He said he can see great future for the company and complimented the employees on their smart work and dedication.
RS 80 MILLION DONATED SO FAR Siemens Pakistan Managing Director Sohail Wajahat H. Siddiqui on Tuesday said that so far the company had donated Rs 80 million in cash and kind for relief operations in the earthquake areas and more would follow.
Referring to the efforts of Siemens Pakistan, Siddiqui said that after the quake a global effort was started under Siemens' Caring Hands framework.
He said that to date the total donations in cash and kind from local and international Siemens resources amounted to more than Rs 80 million, which included more than Rs 20 million worth of medical equipment such as portable X-ray machines and portable ultrasound and more than Rs 20 million worth of high quality shelters.
A Tetra Rapid Development Unit for the relief operations has been made available for six months. Four DG sets of 150 Kva for which Volvo donated the engines are other donations.
He said that in addition a "Light for Life" programme has been initiated with the help of Caring Hands to install kiosk substations in the affected areas.
He said that from day one we have also contributed in the restoration of telecommunication services in the affected areas free-of-charge and continue to help in many other areas as far as we can as we feel it is our duty to help the country in its hour of need.