Bosch says the robust results were on the back of improved operational efficiency and higher productivity.
Tier 1 supplier, Bosch India reported its Q1 FY 2019 revenue of Rs 3,212 crore, a growth of 21.3 percent YoY. The company says the robust results were on the back of improved operational efficiency and higher productivity.
For Q1 FY2019, PAT was Rs 431 crore, up 42.4 percent compared to same period last year. The company said its Mobility Solutions business sector grew by 20.5 percent, with domestic sales witnessing growth of 21.7 percent, while export grew by 7.4 percent. Within the mobility business, the powertrain solutions business division saw a robust performance and grew by 26.5 percent. This included a growth of 28.2 percent in terms of sales in the domestic market outperforming the domestic automotive market, which grew by 24.6 percent in the same period.
Bosch’s other business registered a growth of 48.9 percent with Energy and Power Tools business divisions being the lead contributors.
“Bosch Limited had a progressive contribution – globally and locally in the automotive industry this year. We will continue to make considerable upfront investments – in the form of capital expenditure, high spending on R&D, and opening new markets. The remaining financial year will see Bosch making significant innovative additions to the Indian automotive industry,” said Soumitra Bhattacharya, managing director, Bosch.
“Bosch is transforming into an end-to-end technology and IoT services provider. With so much potential in our country, we are confident that Bosch will make positive progress with its connected solutions and integrated mobility offerings,” Bhattacharya added.
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