Revenue from operations up 17.3% as compared to last year
Bengaluru : Bosch Limited, a leading supplier of technology and services revenue rose 17.3% to Ra 4,158 crore in the June quarter compared to the corresponding period last year. The revenue from operations in quarter 1 has been higher compared to the previous quarter, mainly due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segment, outperforming the market.
The Profit before Tax (PBT) stood at INR 533 crores (60 million euros) which is 12.8% of total revenue from operations, an increase of 21.7 percent increase over the same quarter of previous year. The Profit after Tax (PAT) stood at INR 409 crores (46 million Euros) which is 9.8% of revenue from operations.
Addressing Annual Press conference Guruprasad Mudlapur, Managing Director, Bosch limited and President of Bosch Group in India said, “We are optimistic about the future as we navigate a rapidly changing global market with positive trends in the Indian automotive industry which is witnessing a shift towards premium vehicles and cleaner fuel options and electrification. Hence, embracing change is crucial and we are ready to leverage technological advances to cater to the evolving consumer preferences .With India emerging as a promising market and our focus on green hydrogen and innovative automotive offerings, Bosch is well-positioned for growth and success in the year ahead.” He added.
The power train solution business registered a growth of 12.5% over the same quarter of previous financial year outperforming the overall automotive market growth. This has resulted in an increase of 13.6% in the product sales of the automotive segment. While there are still supply bottlenecks, the global semiconductor supply situation has eased in the recent months. The weakening of demand due to global economic crisis has helped better distribution of semiconductor supplies across the world. As a result, the two-wheeler business has experienced a remarkable sales recovery, with a substantial growth of 42.8% compared to the same quarter last year.
Guruprasad Mudlapur commented about the outlook for the upcoming fiscal year, “Bosch is poised to embrace the transformative changes ahead of us. Cleaner fuels, green hydrogen and electrification take centre stage in our commitment to a climate-neutral future. Bosch India will showcase the BS6 stage 2 hydrogen engine trucks, by early 2024. This is also exemplified by the successful launch of our first hydrogen-powered demonstrator vehicle in India in June 2023 which comes after the announcement about the launch of the pilot Hydrogen Engine Testing infrastructure in Bengaluru later last year.”
“At Bosch India, we are fostering a culture of inclusivity, collaboration, and continuous learning for our associates’ success. By investing in our people, we aim to enhance their capabilities and maintain our position at the forefront of the industry. Exciting times lie ahead as we navigate the evolving landscape of the India market,” Mudlapur added.
