Bosch Q4 profit dips 10.22% at Rs440.47 crore on higher tax expenses
New Delhi: Auto component maker Bosch Ltd on Thursday reported 10.22% decline in standalone net profit at Rs440.47 crore for the fourth quarter ended March, on account of higher tax expenses.
The company had posted a standalone net profit of Rs490.6 crore in the same period of previous fiscal, Bosch Ltd said in a BSE filing.
Total income from operations during the quarter under review stood at Rs2,780.20 crore as against Rs2,695.43 crore in the year-ago period, up 3.14%. The board of directors of the company have recommended a final dividend of Rs90 per equity share for the fiscal 2016- 17.
During the quarter, the company had an outgo of Rs221.89 crore on tax expenses of continuing operations as compared to Rs135.25 crore in the same quarter of previous year.
For the fiscal 2016-17, standalone net profit was at Rs1,740.23 crore as against Rs1,533.55 crore in the previous fiscal, a growth of 13.48%.
Total income from operations for the year was at Rs11,242.66 crore as compared to Rs10,441.9 crore in 2015-16, up 7.67%. Shares of Bosch Ltd were trading 2.61% up at Rs23,390 on BSE.