Bosch Q3 net profit up 29% at Rs281 crore
New Delhi: Auto components major Bosch Ltd on Monday reported a 28.78% increase in its net profit at Rs281 crore for the quarter ended December 2017, on account of higher income.
The company had posted a net profit of Rs218.19 crore during the same period of the previous fiscal, Bosch Ltd said in a regulatory filing. Total income during the quarter under review stood at Rs3,174.18 crore. It was Rs3,027.15 crore in the corresponding quarter of the last fiscal.
“Bosch is offering the right technologies to shape the future while also taking care of the core businesses,” Bosch Ltd managing director Soumitra Bhattacharya said. On outlook, Bhattacharya, who is also the president of Bosch Group in India said: “We expect to remain on a path of growth in both areas in the current business year and are well prepared.”
The company said the positive result was achieved on account of higher sales volume, improvement in material and personnel cost. Key performing division was the gasoline systems business, which registered an impressive growth of 37.1%, it added.
Sales of the diesel systems’ division registered a similar growth of 33.6%, the company said adding that its automotive aftermarket division witnessed a stable growth of 4% after recovering from goods and services tax (GST) transition. The company’s stock closed 3.29% up at Rs19,980 apiece on BSE on Monday.