SME Times News Bureau | 06 Feb, 2016
German automotive
major Bosch Ltd on Friday reported net profit of Rs.221 crore for third quarter
of 2015-16, a whopping 99 percent growth over the same period last year.
The city-based Indian subsidiary's net sales grew 12.8 percent to Rs.2,651
crore for the quarter under review and profit before tax to Rs.321 crore, which
is 12 percent of sales.
According to the statement of unaudited financial results posted on the Bombay
Stock Exchange (BSE), Bosch earned a total income of Rs.2,697.89 crore in the
quarter under review against Rs.2,381.64 crore earned in the same period of
2014-15.
The company incurred total expenses of Rs.2,462.01 crore against Rs.2,279.40
crore.
In Q3, Bosch's mobility solutions businesses outperformed all other businesses
by registering a growth of 10.7 percent while gasoline systems and automotive
aftermarket divisions also performed strongly with double digit growth.
As part of a planned global realignment, the starter motors and generators
business was sold to a standalone Indian subsidiary of the Bosch Group, and
plans are afoot to find a joint venture partner to escalate the growth and
competitiveness of the business.