Bosch Ltd, a supplier of technology and services, reported a 7.5% increase in net sales and income from operations in the first quarter of the financial year 2015-16 to Rs 2,532 crores.
Profit Before Tax (PBT) increased by 17.8 percent and stood at Rs 516 crores. Profit After Tax (PAT) stood at INR 344 crores, an increase of 12.1 percent. This was due to lower depreciation, higher treasury income and control on budgetary expenses.
“Bosch Limited registered healthy growth in the first quarter of the current financial year. Our business divisions in the Mobility Solutions sector, as well as our divisions beyond Mobility Solutions developed strongly. The measures initiated in the last two years such as effective deployment of human resources and improving operational efficiency have continued to yield good results,” said Dr. Steffen Berns, managing director of Bosch Limited.
“Our forecast for this financial year remains cautiously optimistic. We see a continued recovery in commercial vehicles and moderate growth in passenger cars. However, we do not expect big developments in the agricultural areas. We are positive about the mid-term prospects for our business in the Indian market and are well prepared for the upcoming emission legislations. We continue our investments in infrastructure, technology and our employees,” he further elaborated.
“The planned investment of around INR 650 crores in 2015 underlines our strong commitment to the country.”
Overall, the Mobility Solutions business of Bosch Limited grew by 5.3 percent in the quarter April-June 2015 over the corresponding quarter of 2014.
The Gasoline Systems division continued its good performance to register strong double-digit growth in the first quarter. The growth of the Diesel Systems division was in line with the Indian automotive industry in spite of a weak tractor market.
The other business divisions beyond Mobility Solutions registered an overall growth of 24.4 percent – especially the Energy business, Packaging Technology and Security Technology grew strongly.
Trading businesses, that is the Automotive Aftermarket and Power Tools divisions –are still facing challenges because of the tight liquidity in the market.
Bosch Group in India employs over 29,000 associates and generated consolidated revenue of about ₨.15,250 crores* in 2014 of which rs 10,800 crores from third party.