This also resulted in a Net Loss of
The Company, however, has a strong Order Backlog of
'Large project announcements by the Central and State Governments in the transmission, distribution and mobility sectors, have reduced significantly. With continued muted demand in the economy, coupled with the uncertainty surrounding the extent and duration of the virus with its resultant restrictions, many private customers have deferred their Capex plans and have launched programs to optimize costs and conserve cash. We are however beginning to see a revival of demand in some sectors but will need to assess how sustainable this is. We do believe however that it is now critical to increase demand in the economy and this will require increased Government spending in infrastructure,' stated
'Consequent to the above economic scenario, we shall continue to drive solutions in the energy transmission, distribution and mobility segments as also our digital offerings across all our businesses. Each one of our businesses has also started optimizing costs to preserve and grow our profitability. Our focus on profitable growth continues,' added
Contact:
Tel: +91 22 3967 7000
Email: praneet.mendon@siemens.com
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