Bosch Limited registers 12.8 percent profit before tax in Q1 FY 2023-24
Bengaluru: Bosch Limited, a supplier of technology and services,on Tuesday posted its total revenue from operations of INR 4,158 crores (466 million euros) in Quarter 1 of FY 2023–24, an increase of 17.3 percent over the same quarter last year.
The revenue from operations in quarter 1 has been higher compared to the previous quarter, mainly due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segment, outperforming the market.
The Profit Before Tax (PBT) stood at INR 533 crores (60 million euros) which is 12.8 percent of total revenue from operations, an increase of 21.7 percent increase over the same quarter of previous year. The Profit After Tax (PAT) stood at INR 409 crores (46 million euros) which is 9.8 percent of revenue from operations.
“We are optimistic about the future as we navigate a rapidly changing global market with positive trends in the Indian automotive industry which is witnessing a shift towards premium vehicles and cleaner fuel options and electrification. Hence, embracing change is crucial and we are ready to leverage technological advances to cater to the evolving consumer preferences,” said Guruprasad Mudlapur, Managing Director, Bosch Limited and President of Bosch Group in India. “With India emerging as a promising market and our focus on green hydrogen and innovative automotive offerings, Bosch is well-positioned for growth and success in the year ahead.”
Rising income levels and an increased focus on value-driven factors are driving growth in the categories of scooters, premium motorcycles, and SUVs.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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