Bosch Q3 net profit rises 19.34% to ₹335.37 crore

Auto component maker Bosch Wednesday reported 19.34% rise in standalone net profit at ₹335.37 crore for the third quarter ended December 31, 2018.

The company had posed a standalone net profit of ₹281.01 crore in the year-ago quarter, Bosch said in a regulatory filing.

Total income during the period under review stood at ₹3,274.12 crore as compared to ₹3,174.18 crore in the same quarter last fiscal, it added.

Expenses in the third quarter were higher at ₹2,784.22 crore as compared to ₹2,751.27 crore in the same period a year ago.

Bosch said the board of directors of the company, at its meeting held Wednesday, approved appointment of Bhaskar Bhat as an independent director for a second term of five years with effect from April 1, 2019.

Similarly, the board also approved reappointment of Bernhard Steinruecke as an independent director for another term of five years with effect from April 1, 2019.

It also approved re-appointment of Andreas Wolf as Joint Managing Director of the company for a further period of three years with effect from March 1, 2019.

All these appointments will be subject to shareholders' approval, the company added.

Shares of the company were trading 3.63% lower at ₹17,934.95 apiece against their previous close on BSE.