More Stories

Informist, Tuesday, Nov. 12, 2024

 

--Bosch Jul-Sept net profit INR 5.36 bln vs INR 9.99 bln year ago 

--Bosch Jul-Sept revenue INR 43.94 bln vs INR 41.30 bln year ago 

--Bosch Apr-Sept net profit INR 10.01 bln vs INR 14.08 bln year ago 

--Bosch Apr-Sept revenue INR 87.11 bln vs INR 82.89 bln year ago 

--Bosch: One-time income of INR 485 mln in Jul-Sept 

 

By Arya S. Biju

 

MUMBAI – Bosch Ltd.'s net profit for the September quarter fell 46.4% on year, breaking nine consecutive quarters of on-year growth in net profit, even as its top line clocked the highest on-year growth in revenue in the last three quarters. The growth in revenue for the quarter was on the back of increased sales in passenger cars and the off-highway segment, particularly genset applications, the company said. 

The engineering and technology solutions company reported a net profit of INR 5.36 billion for the September quarter, down from INR 9.99 billion a year ago. This included a one-time income of INR 485 million, from the sale of the original equipment diagnosis business to ETAS Automotive India Pvt. Ltd. as part of a business transfer agreement in June, the company said. 

 

The company's revenue from operations for the quarter was INR 43.94 billion, up 6.4% on year. The company's revenue for the quarter was the highest in at least five years. 

 

Total expenses of the company for the quarter rose 4.6% on year to INR 39.26 billion. Cost of purchase of traded goods, the biggest expense of the company, for the quarter was down 4.1% on year to INR 17.71 billion, while other expenses for the quarter rose 15.3% to INR 6.29 billion. The finance cost of the company fell 82% on year to INR 22 million. Raw material costs for the quarter were INR 10.32 billion, up 8.7% on year and employee benefit expense was INR 3.44 billion, up 2.4% on year.

 

The company's tax expense for the quarter was INR 1.89 billion, down 40% on year. 

 

Sequentially, the net profit grew 15.1%, while its revenue was up 1.8%. For Apr-Sept, the company reported a net profit of INR 10.01 billion, down 29% from INR 14.08 billion in the year-ago period. The company's revenue for Apr-Sept was INR 87.11 billion, up 5.1% from INR 82.89 billion a year ago.

 

The automotive products segment, the largest contributor to the revenue of the company, posted a revenue of INR 37.59 billion, up 5.3% on year, during the quarter. Revenue from the consumer goods segment was INR 4.29 billion, up 10.1% on year.  

 

The overall product sales of the automotive segment of the company for the September quarter increased 6.7% on year. The power solutions business, which constitutes 73% of the overall automotive product sales, grew 5.7% on year driven by increased sales in the passenger cars segment, genset applications and higher exports, Bosch said. The mobility aftermarket business of the company grew 8.8% on year, on account of increased market demand for lubricants and diesel components. The continued growth in the power tools and security technologies segment led to the beyond mobility business of the company reporting a 13.8% on-year increase in net sales, the company said.

 

The company said it expects sustained demand across segments in the December quarter led by the festival period. "Coupled with investments in advanced technologies and a strong commitment to localisation, Bosch Ltd. will continue to deepen its efforts in high growth areas and develop further capabilities to cater to an ever-evolving mobility landscape," said Guruprasad Mudlapur, president of Bosch Group, India, and managing director of Bosch Ltd.

 

Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology. On Tuesday, shares of the company closed at INR 33,278.50 on the National Stock Exchange, down 4.9%. The company announced its earnings for the September quarter after market hours.  End

 

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.