Bosch Q3 net profit up 29% at Rs281 crore
Key performing division for Bosch was the gasoline systems business, which registered an impressive growth of 37.1%
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.
- Comcast digs deep to overcome Fox with $39 billion bid for Sky
- IL&FS unit chief resigns amid default crisis at group
- Tata Steel to buy Usha Martin’s steel business for up to Rs 4,700 crore
- Jack Ma prefers to die on the beach than at a work table in Alibaba
Editor's Picks »
- Narendra Modi launches Ayushman Bharat scheme from Jharkhand’s Ranchi
- US may restrict Green Cards to aid recipients in new crackdown
- No concern on liquidity of NBFCs: SBI chairman Rajnish Kumar
- Infosys, TCS, 3 other IT firms shortlisted to implement RBI’s CIMS
- FPIs turn net sellers in September, pull out ₹15,365 crore so far
- India’s renewable energy sector hits a milestone but loses speed
- All eyes now on share swap ratio in this mega bank merger
- Jet Privilege can actually get higher valuation than Jet Airways
- Profitability of cement firms to take a hit due to weak prices, high costs
- Pidilite’s shares hold their ground despite weak rupee and rising crude