Bosch’s Q2 PAT up 21 percent

Bosch Ltd has announced its Q2 results which saw it post a net profit of Rs 307 crore for the quarter ended June 30, 2014,  up 21 percent. Total income has increased from Rs 2,355 crore, up 3.6 percent over the year-earlier period. Domestic sales aere up 2.4 percent and exports grew 17.4 percent over Q2 of 2013.

According to managing director Dr Steffen Berns, “Sales were subdued during the second quarter as a result of limited consumer demand, tight liquidity and reduced activity around the time of the May elections.”

Bosch’ automotive business grew by 2.8 percent, above the overall industry which has stayed flat in Q2.

In a recent interview to Autocar Professional, Dr Berns said that despite the economic slowdown in the past two years, Bosch is continuing with its planned investments, announced early this year.

The company has also taken several initiatives in the automotive aftermarket which include appointing over 250 new first-trade level customers, launching a new workshop module named ‘Optimal Diesel Partner’ for diesel service and setting up warehouses at Bhubaneswar and Indore for the independent aftermarket and at Pune, one for OE spares.