In light of depleting order inflows and dwindling profits, Siemens is planning to cut capital expenditure. With uncertain business environment, the company will be taking a series of measures to prune costs, strengthen core business activities, improve sales, and optimize the use of its facilities in sync with its parent company’s strategy. Further, the reports also suggest that company will also focus on its low-cost and high-technology ‘SMART’ products, which contribute 15 per cent of the order in-take.
The company has reported a net loss of Rs 55.77 crore for the quarter ended September 30, 2012 as compared to a net profit of Rs 270.82 crore for the same quarter in the previous year. Total income has decreased by 4.65% at Rs 3375.18 crore for quarter under review as compared to Rs 3539.67 crore for the quarter ended September 30, 2011.