Bosch Ltd’s sales grow by 3.6 percent in the third quarter of 2013
Bangalore, November 12, 2013: Bosch Ltd has registered a growth of 3.6 percent on net sales and income from operations in the third quarter of 2013 at Rs 2,104 crore over the same period last year. Profit Before Tax (PBT) increased by 16.0 percent in the third quarter as compared to the same period of 2012 and stands at Rs 324 crore. Profit After Tax (PAT) is Rs 234 crore, a growth of 15.5 percent over the same period of 2012. Exports increased by 19.5 percent in the same period mainly reflecting the depreciation in the rupee over the year.
“As anticipated, our current third quarter results are better than the previous year, as performance in the third quarter of 2012 had been sluggish. However, weak consumer demand, currency impact and further slowdown in the automotive market has led to a decline compared to previous quarter results,” said managing director Dr Steffen Berns, announcing the company’s quarterly results.
For the nine months ended September 2013, Bosch Ltd registered an overall growth of 1.7 percent on net sales and income from operations at Rs 6,564 crore. In the automotive segment, starter motors and generators continued its strong double-digit growth; the Aftermarket division managed a modest growth but Diesel Systems declined due to weak demand in the commercial vehicle and passenger car segments.
“Our effort to improve operational efficiency has continued to yield positive results in difficult market environment. During festive season consumer sentiment is expected to improve, but this will not be sufficient to generate a turnaround in the overall business situation. In spite of the current challenges, we continue to prepare ourselves for expected mid- and long-term growth through our investments in facilities and new product developments, coupled with continued cost optimization,” Dr Berns added.