April 25, 2024 19:22 (IST)
Bosch Limited registers 16.3% growth in net sales in Q3
Bangalore/Kolkata Nov 11 (IBNS): Supplier of technology and services Bosch Limited posted net sales and income from operations of Rs. 2,456.7 crores, registering a 16.3 percent increase over the same period of the previous year (Quarter 3 2013).
Domestic sales increased by 18.5 percent and export sales grew by 3.3 percent over Quarter 3, 2013.
Profit After Tax (PAT) stood at Rs. 306.4 crores, resulting in an increase of 30.8 percent as compared to Quarter 3, 2013.
There has also been a substantial increase in the non-operating income due to higher sale of one time marketable securities and other treasury related income.
“Backed by strong growth in our Mobility Solutions business, previously Automotive Technology, and on a lower base from Quarter 3 2013, we have registered a healthy performance for the given quarter. This growth is well above the performance of the Indian automotive market for the quarter, which has benefitted from the good growth witnessed in the passenger cars and heavy commercial vehicle segment. The liquidity crunch in the market still remains a concern, especially in our trading business,” said Steffen Berns, managing director of Bosch Limited, announcing the company’s third quarter results.
The company’s Mobility Solutions business in India, which constitutes a major portion of its revenue, grew by 18.7 percent. Business divisions of Diesel Systems and Gasoline Systems performed especially well.
“Our localization efforts, tight budgetary control and improvement in operational efficiency continue to yield good results. The current strike at our Bangalore plant has not affected the Quarter 3 performance, since it started in the last two weeks of the quarter ending September. It will have some minor effect in the subsequent quarter’s performance. We are keen to resolve the issues with our union as we look forward to sustaining our growth and competitiveness in the market,” stated Berns.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Vedanta Ltd Q4FY24 net profit drops 27% YoY to Rs 1,369 cr Thu, Apr 25 2024
Swiggy gets shareholders' nod for $ 1.2 billion IPO Thu, Apr 25 2024
HUL Q4FY24 profit drops 6% YoY to Rs 2,406 cr Thu, Apr 25 2024
Credit card spending grows 27% YoY to Rs 18.26 trillion in FY24: RBI Thu, Apr 25 2024
Mahindra Tractors crosses milestone by selling 40 lakh tractor units Thu, Apr 25 2024
DishTV India expects to touch 30 percent market share at the end of current financial year, says CEO Manoj Dobhal Thu, Apr 25 2024
DCB Bank Q4FY24: PAT grows YoY 9% to Rs 156 cr Wed, Apr 24 2024