Engineering firm Siemens' net profit rises 42%
German engineering giant Siemens reported a net profit of €1.6 billion (approximately ₹11,818 crore) for the quarter ended December, a 42% surge over the year-ago period. Revenue rose 8% to €18.9 billion (approximately ₹1.39 lakh crore) year-on-year. The company witnessed a major overhaul in the past few years, including around 13,000 job cuts and rearrangement of organisational structure.