MUMBAI, Nov 21: Siemens Ltd has suffered a net loss of Rs 157.23 crore during the 18-month period ended September 1997 against a net profit of Rs 37.24 crore last year for 12-month period ended March 1996. The sales and services during the period amounted to Rs 1751.41 crore against Rs 1058.10 crore in previous year. The company has suffered a gross loss of Rs 7.48 crore against a gross profit of Rs 99.68 crore.The provision for depreciation amounted to Rs 72.44 crore (Rs 41.04 crore) and for taxation at Rs 3.75 crore (Rs 21.40 crore). After extra-ordinary items and prior period adjustment, the net loss after extra-ordinary items amounted to Rs 155.63 crore. The reserves excluding revaluation reserve has dropped sharply to Rs 118.89 crore during the period from Rs 258.11 crore last year.Annoucing the working results to newsmen here today, J Schubert, Managing Director of the company, has said the negative earnings was due to the deterioration in the operating performance of its main businesses as a result of lower capacity utilization, higher operating costs, higher interest and depreciation burden and additional risk provisions.Siemens received new orders valued at Rs 1684.6 crore against Rs 1446.3 crore for the 12-month period last year. The order inflow has been sluggish due to the weaker domestic demand for the industry and infrastructure segments.

The capital expenditure amounted to Rs 152.6 crore (Rs 165.4 crore in (1995-96). The decline reflects the planned ending of the company's major investment programme which has aggregated to approximately Rs 420 crore over the last three financial years.

As of September end, Siemens had 5775 employees against 8200 employees in the previous year.

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