Bosch Ltd has announced a buy-back of up to 10.28 lakh equity shares at ₹21,000 per share for an aggregate amount not exceeding ₹2,159.01 crore. The buyback is subject to approval from shareholders.

Announcing the second quarter results, Bosch said its net profit rose 18.86 per cent to ₹420 crore on year-on-year because of improved operational efficiency and higher productivity. The company’s total income increased by 13.59 per cent to ₹3,340.62 crore. EPS for Q2 stood at ₹137.6 compared with ₹115.8 last year.

Soumitra Bhattacharya, Managing Director, Bosch, said the company is helping customers to meet the challenge of manufacturing only vehicles compliant with BS VI emission standards from April 2020 as recently ruled by the Supreme Court. “In the past quarter, Bosch has outperformed the industry in business-beyond-mobility sectors as well,” he said.

During the second quarter, Bosch’s Mobility Solutions turnover increased 12.3 per cent. The largest contributor was domestic automotive sales which increased 15.1 per cent. Within the Mobility Solutions business, the Powertrain Solutions division performed registered a growth of 10.3 per cent. The Automotive Aftermarket division grew 20.9 per cent after recovering from impact of GST implementation last year.

Bosch’s business-beyond-Mobility Solutions sector registered a growth of 14.3 per cent. The main contributors were the energy and building technology sector and the power tools division.

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