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Bosch Ltd., , German tech giant saw its consolidated net profit fall by 42 per cent year-on-year (YoY) in the quarter ending 30 September, declining to Rs 535.9 crore compared to ₹998.9 crore in Q2FY24.
The total revenue from operations of the company stood at Rs 4,394 crore, up by 6.4 per cent over the corresponding quarter of last year. This growth is driven by increased sales in passenger cars and off-highway segment, particularly genset applications, said the company.
Adverse market situation
Commenting on the results, Guru Prasad Mudlapur, Managing Director, Bosch Ltd., and President, Bosch Group in India, said, “Despite unpredictable rainfall and several macroeconomic factors affecting the automotive industry’s overall performance this quarter, we showcased our capacity to adapt to changing market demands and provide high-quality solutions that align with our customer’s needs.”
Segment performance in auto sector
Explaining the segment performance, Bosch said, “Overall product sales in the automotive segment increased by 6.7 per cent YoY. The power solutions business, which accounts for 73 per cent of total automotive product sales, grew by 5.7 per cent, driven by higher sales in the passenger cars segment, genset applications, and increased exports.”
The mobility after-market business grew by 8.8 per cent on account of increased market demand for lubricants and diesel components, while the beyond mobility business recorded a 13.8 per cent increase, driven by continued growth in the power tools and security technologies segment, said the company.
“We anticipate sustained demand across segments, driven by the festive period in the next quarter,” added Mudlapur. The company also emphasised its commitment to deepening efforts in high-growth areas and expanding capabilities to support the evolving mobility landscape. This approach is backed by investments in advanced technologies and a strong focus on localisation.
The shares of the company closed at Rs 33,394, down by 4.49 percent on the BSE.
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