Our Bureau Technology and services provider Bosch Ltd has posted a 42.4 per cent increase in net profit to ₹431 crore during the first quarter of FY19 on account of higher productivity and better operational efficiency.
In a statement, the company said its total revenue from operations grew 21.3 per cent to ₹3,212 crore.
“Bosch will continue to make considerable upfront investments in the form of capital expenditure, high spending on R&D and opening new markets. The remaining financial year will see Bosch making significant innovative additions to the Indian automotive industry. Bosch is transforming into an end-to-end technology and IoT services provider,” said the MD Soumitra Bhattacharya.
Bosch’s mobility solutions business sector grew 20.5 per cent during the period. Domestic sales increased 21.7 per cent, while export sales registered a growth of 7.4 per cent. Within the mobility solutions business, the powertrain solutions business division grew 26.5 per cent.
Powertrain solutions domestic sales increased 28.2 per cent, outperforming the domestic automotive market, which posted a growth of 24.6 per cent in the same period.
Bosch’s business beyond the mobility solutions’ sector grew 48.9 per cent contributed majorly by energy business and power tools’ business divisions.