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Otis now expects its full-year adjusted earnings per share to be about $3.52, up from the earlier forecast of $3.45 to $3.50.

While this is undoubtedly a cause for concern, as per the data from four fire stations in the city, as many as 15 incidents of people getting stuck in lifts were reported in the past eight months this year.

Full-year net profit is expected to reach 880 million to 910 million Swiss francs ($979 million-$1.01 billion) and revenue to grow 6% to 8% in local currencies, Schindler said. The company previously aimed for revenue growth of 5% to 8% and net profit of 860 million to 900 million francs.

Lift And Escalators Act In Uttar Pradesh: The update was shared in the Assembly and comes in the wake of demands being raised for legislation to regulate the installation, maintenance and usage of lifts in the state, particularly in high-rise buildings.

Full-year net profit is expected to reach 860-900 million Swiss francs ($992.84-$1.04 billion) and revenue to grow 5-8% in local currencies, Schindler said.