The country's leading auto parts' maker, Bosch Ltd on Tuesday posted a 22 per cent increase in net profit in the third quarter but said it was too early to take a call on the passenger car industry's growth this fiscal.

“We need to assess the situation carefully,” Bosch Ltd managing director, Mr V K Viswanathan, told Business Line . He said during the third quarter (July-September), the company's net sales and income from operations grew 15.4 per cent to Rs 1,969.5 crore while net profit grew 22 per cent to Rs 288 crore.

Mr Viswanathan said the company's bottom line was shored up primarily because it was able to reign in costs despite high commodity prices and an 85 per cent increase in earnings from treasury and interest income.

He said in spite of rising interest cost as well as rupee depreciation, the company will not reduce its investments. It has earmarked capex of around Rs 600 crore for the calendar year which is its fiscal year.

Among its various divisions, diesel systems' and automotive aftermarket business revenue grew 13 per cent each while the power tools and security technology posted 19 per cent and 17 per cent growth respectively.

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