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.
“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.
RELATED ARTICLES
Uniproducts India targets 15% growth till FY2027, eyes new EV OEMs for NVH parts
The Noida-headquartered company, which is a leading manufacturer of roof liners, floor carpets, sound insulation materia...
Ford to build more EV software capability at Chennai tech hub
Ford Business Solutions India, which currently employs 12,000 personnel set to add 3,000 more; Ford, which is known to b...
ASK Automotive to set up JV with Aisin to sell aftermarket parts for cars
Ask Automotive will have 51% of the equity of the joint venture to be set up with Aisin Asia (Thailand) Company and Aisi...