Bosch Ltd, announced a 13.8% increase in net profit for the first quarter ending June 30, 2024. The company’s net profit reached ₹465.4 crore, up from ₹409 crore in the same quarter last year. The revenue from operations grew by 3.8%, totaling ₹4,316.8 crore, compared to ₹4,158.4 crore in the previous year’s corresponding quarter.
At the operational level, Bosch’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) increased by 11.1% to ₹519.7 crore, up from ₹467.9 crore in the same period last year. The EBITDA margin improved to 12% from 11.3% in the previous year.
The Profit Before Tax was ₹611 crore, which is 14.1% of the total revenue, marking a 14.7% increase from the same quarter last year. Product sales in the automotive segment rose by 4.1%, driven by the Power Solutions business, which grew by 2.3% due to strong consumer demand for passenger cars.
The Mobility Aftermarket business saw an 8.1% increase, thanks to higher demand for new-generation diesel components and strong performance in core product categories. The Beyond Mobility business recorded a 5.8% increase in net sales, supported by growth in Consumer Goods Products and Building Technologies.
Guruprasad Mudlapur, President of Bosch Group in India and Managing Director of Bosch, said, “The financial year started with moderate growth in the automotive market, despite challenges such as the high base from last year, the election-related slowdown, and the summer heatwaves.
Ongoing demand in the passenger car segment, along with growth in production and wholesale, contributed to Bosch’s growth this quarter. However, retail sales have been slow, leading to an increase in pipeline inventory. Despite these challenges, the overall outlook in the automotive sector remains positive.”
