Bosch Limited posted total revenue of Rs 32.12 billion from operations in first quarter of FY 2018-19, registering 21.3 per cent increase over the same period of the previous year on a comparable basis. The Profit Before Tax (PBT) stood at Rs 6.49 billion, a growth of 40.5 per cent over the same period of the previous year on account of higher turnover, improved operational efficiency and higher productivity. The net Profit After Tax (PAT) stood at Rs 4.31 billion, an increase of 42.4 per cent over the same period of previous year.
“Bosch had a progressive contribution, globally and locally, in the automotive industry this year. We will continue to make considerable upfront investments in the form of capital expenditure, high spending on R&D, and opening new markets. The remaining financial year will see Bosch making significant innovative additions to the Indian automotive industry,” said Soumitra Bhattacharya, Managing Director, Bosch Limited.
Bosch’s Mobility Solutions business sector grew by 20.5 per cent in 2018-19. Domestic sales increased by 21.7 per cent, while export sales registered a growth of 7.4 per cent. Within the Mobility Solutions business, the Powertrain Solutions business division showed a significant performance registering a strong double-digit growth of 26.5 per cent.
Powertrain Solutions domestic sales increased by 28.2 per cent, outperforming the domestic automotive market, which posted a growth of 24.6 per cent in the same period.
Bosch’s business beyond the Mobility Solutions sector registered a double-digit growth of 48.9 per cent contributed majorly by Energy business and Power Tools business division.
“Bosch is transforming into an end-to-end technology and IoT services provider. With so much potential in our country, we are confident that Bosch Limited will make positive progress with its connected solutions and integrated mobility offerings,” Bhattacharya added.