BERLIN: Siemens AG, maker of heavy industrial equipment including power stations and trains, saw net profit fall in the most recent quarter due to large one-time gains in the year earlier period.
However, the company’s earnings beat analyst estimates and it reported a strong rise in new orders. Net profit fell to 1.5 billion euros (US$1.7 billion) in the January-March quarter from 3.9 billion euros in the same quarter last year. Revenue grew 5 percent to 19.0 billion euros.
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