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Informist, Tuesday, Jan. 28, 2025

--Bosch Oct-Dec net profit INR 4.58 bln vs INR 5.18 bln year ago 

--Bosch Oct-Dec revenue INR 44.66 bln vs INR 42.05 bln year ago 

--Bosch Apr-Dec net profit INR 14.60 bln vs INR 19.26 bln year ago 

--Bosch Apr-Dec revenue INR 131.77 bln vs INR 124.94 bln year ago 

--Bosch to sell building tech product business to arm Keenfinity India 

--Bosch to sell building tech product business to arm for up to INR 5.95 bln 

--Bosch Oct-Dec EBITDA INR 5.83 bln vs INR 5.78 bln year ago 

--Bosch Oct-Dec production volume 1.91 mln units, up 3% on year 

--Bosch expects Jan-Mar production volume at 2.14 mln units 

--Bosch Oct-Dec automotive pdt sales INR 38.93 bln vs INR 36.52 bln yr ago 

By Gopika Balasumramium and Noopur Bhandiwad

MUMBAI - Bosch Ltd.'s net profit for the December quarter declined both year-on-year and quarter-on-quarter and the company reported the slowest sequential growth in revenue for 2024-25 (Apr-Mar). The growth in revenue of the company was driven by the increase in service income from the development of automotive components, Bosch said in a press release.

The company reported a net profit of INR 4.58 billion for the December quarter, down from INR 5.18 billion a year ago. Analysts had expected the company to report a net profit between INR 5.1 billion and INR 5.4 billion. The company's revenue from operations for the quarter was INR 44.66 billion, up 6.19% from INR 42.05 billion a year ago. For the September quarter, the company had reported a net profit of INR 5.36 billion on revenues of INR 43.94 billion.

Total expenses of the company for the December quarter rose 6.5% on year to INR 39.90 billion. Purchases of stock-in-trade for the quarter rose 4.1% on year to INR 17.80 billion and the other expenses for the quarter rose 9.9% to INR 7.38 billion. The finance costs of the company rose 59% on year to INR 62 million. Raw material costs for the quarter were INR 10.18 billion, up 11.5% on year and employee benefit expense was INR 3.94 billion, up 18.1% on year.

The company incurred INR 1.59 billion in tax expenses, up 4.4% on year. For the nine months ended December, the engineering and technology solutions company posted a net profit of INR 14.60 billion, down 24.2% from a year ago. Its revenues for Apr-Dec were INR 131.77 billion, up 5.5% from the same period in the previous financial year. For the December quarter, the company reported earnings before interest, taxes, depreciation, and amortisation of INR 5.83 billion, up slightly from INR 5.78 billion a year ago. 

The automotive products segment, the largest contributor to revenues, posted sales of INR 38.93 billion for the December quarter, up 6.6% on year. The consumer goods segment generated revenues of INR 3.62 billion, up 8.4% on year. The overall product sales of the automotive segment increased 1.6% from the previous-year quarter, the company said. The power solutions business, which constitutes 71% of its overall automotive products segment, fell 1.8% on year primarily on account of degrowth in the heavy commercial vehicles segment due to a slowdown in economic activity, Bosch said. 

The company's mobility aftermarket business grew 8.8% during the December quarter compared to a year ago due to increased market demand for diesel systems, automotive batteries, and lubricants. The net sales of the beyond mobility business rose 1.5% on year, driven by continued growth in the power tools segment. 

The company's total output for the quarter, excluding products for two-wheelers, was 1.91 million units, up 3% on year but down 9% on quarter. The company expects production volume for the March quarter to be 2.14 million units, excluding products specific to two-wheelers. "This quarter, Bosch generated growth through the development of advanced automotive components and customer focused solutions...," Guruprasad Mudlapur, president of the Bosch Group in India and managing director of Bosch said in the press release. "...Moving forward, we aim to deepen our engagements in emerging domains and remain optimistic about maintaining our growth momentum in the next quarter," Mudlapur said. 

The company also said its board of directors had approved to sell its building technology's product business to Keenfinity India Pvt. Ltd. for INR 5.95 billion. The transaction will be completed not later than Jun. 1, it said. Keenfinity India is a wholly-owned subsidiary of Bosch Security Systems B. V Nederland and is a fellow subsidiary of Bosch.  End

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