Bosch Ltd has posted 16.65 per cent higher profits in the first-quarter (Q1) of FY 2016-17 at Rs 431.59 crore on standalone basis as compared with Rs 369.96 crore during the same period last year.
The company’s revenues for Q1 are higher by 9.48 per cent at Rs 2,519.55 crore as against Rs 2,301.18 crore during the same period last year. EPS (basic) stood at Rs 119.4 (last year Rs 120.3).
“Bosch has registered healthy top-line growth in the quarter ended in June 2016. Although the development of the local automotive market remained subdued, we continue to invest in infrastructure and technology. We are working closely with our customers for the introduction of BS6 emission norms by 2020 and have the right products and experience to contribute towards meeting the emission standards,” said Dr Steffen Berns, Managing Director of Bosch Ltd.
“We welcome the passage of the GST (Goods and Service Tax) Amendment Bill which we expect to lead to a big boost for the Indian economy. Our IT systems have already been upgraded and are GST compliant. We are also optimising our supply chain and logistics to benefit from the introduction of GST,” added Berns.
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