Bosch Limited, a prominent supplier of technology and services, has reported a total revenue from operations of INR 4,205 crores (470 million euros) in Quarter 3 of the fiscal year 2023–24. This marks a notable increase of 14.9% compared to the same quarter of the previous year. The growth trajectory is attributed to heightened demand in the automotive market, particularly in the passenger cars and heavy commercial vehicle (HCV) segments.
The Profit Before Tax (excluding exceptional items) reached INR 612 crores (68 million euros), representing 14.6% of the total revenue from operations—an impressive surge of 44.1% over the corresponding quarter of the previous year. The Profit After Tax (PAT) stood at INR 518 crores (58 million euros), constituting 12.3% of revenue from operations.
Guruprasad Mudlapur, President of the Bosch Group, India, and Managing Director of Bosch Limited, expressed optimism about the company’s future prospects. He emphasized their commitment to delivering cutting-edge technologies and solutions that enhance the customer experience, buoyed by a sustained focus on localization across various sectors.
Performance Highlights in Quarter 3:
- Overall product sales in the automotive segment surged by 16.8% compared to the same quarter of the previous year.
- The Powertrain Solutions business, comprising more than 73% of the overall automotive product sales, witnessed a robust growth of 20.4% over the corresponding quarter of the previous financial year.
- The two-wheeler business experienced a 7.1% growth compared to the same quarter last year, driven by the alleviation of semiconductor supply bottlenecks and increased volume demands due to new product launches by Original Equipment Manufacturers (OEMs).
- The Beyond Mobility business recorded a remarkable 32.5% increase in net sales over the same quarter of the previous financial year, fueled by sustained growth in the consumer goods product segment.
Mudlapur reiterated Bosch Limited’s strategic focus on evolving technologies in the mobility sector, emphasizing their anticipation of an exciting future with a strong emphasis on clean mobility, alternate powertrains, and connected mobility solutions.
Interim Dividend:
Furthermore, the Board of Directors declared a special payout in the form of an Interim Dividend of INR 205 per equity share of INR 10 each, during their meeting held on February 13, 2024.
Bosch Limited’s commitment to technology and innovation positions it at the forefront of shaping a connected and eco-friendly automotive landscape in India.
