Bosch cautious about India outlook

Automotive ancillary supplier Bosch is in wait-and-watch mode in India with a host of uncertainties to grapple with. 

According to Soumitra Bhattacharya, MD, Bosch and President of the Bosch Group (India), the second wave of the pandemic has proved to be a challenge for automakers and prompted them to cut production or suspend operations.

"Given the uncertain economic environment, the impending third wave of Covid and unpredictability in the international supply chain, we would like to maintain a cautious business outlook for the rest of the fiscal," he added. 

Bosch posted revenue of Rs 2,444 crore for the first quarter of FY2022 while profit before tax was Rs 335 crore in Q1.