The Siemens Pakistan Engineering Company Limited has posted a profit after tax of PKR 38.45 million for the quarter ended on December 31st 2011 which is 158% lower than PKR 206.30 earned in the same quarter last year.

This translated into an earning per share of PKR 4.66 against PKR 25.02 in 2010, according to the company’s profit and loss accounts available with the Karachi Stock Exchange. One of the reasons for drastic decline in the profit after tax is 21% fall in the company’s net sales to PKR 3.46 billion from PKR 4.38 billion in 2010.

According to the company’s accounts, on the contrary, the cost of sales and service consumed 89% or PKR 3.09 billion of the total sale receipts against 83% or PKR 3.64 billion of the total sales in 2010.

(Sourced from www.thenews.com.pk)