Profit after tax of Siemens declines

RECORDER REPORT

KARACHI: The profit after tax of Siemens (Pakistan) Engineering Company Limited has declined to Rs 67.408 million in the year ended September 30, 2011 as compared to Rs 1,011.279 million earned in the same period last year.

The company's earning per share has declined to Rs 8.17 in the period under review against Rs 122.62 in the same period a year back.

The board of directors of the company in its meeting held here on November 24, 2011 approved a final cash dividend for the year ended September 30, 2011 at Rs 10 per share i.e. 100 percent.

According to the financial results sent to Karachi Stock Exchange, the company's net sales and services declined to Rs 15.059 billion in this period against Rs 26.248 billion. The cost of sales and services reduced to Rs 12.943 billion against Rs 22.367 billion.  The company's profit before taxation declined to Rs 158.178 million in this period against Rs 1,590.067 million in the same period a year back.