Bosch reports 13.8% net profit in Q4FY23, mobility business witnesses 23.7% jump

Bosch, a provider of automotive technology and services, reported a net profit of Rs 398.9 crore in Q4FY23, translating to a 13.8% growth compared to a net profit of Rs 350.5 crore in Q4FY22. 

The corresponding operative revenues increased to Rs 4,063 crore during Q4FY23, a jump of 22.7% compared to Rs 3311 crore during the corresponding period last year. 

Additionally, the total product revenue of Bosch’s mobility solutions business sector and the beyond mobility solutions business sector increased by 23.7 percent and 7.8 percent, respectively, the company said in a statement.

Additionally, the total product revenue of Bosch mobility solutions business sector increased by 23.7 percent and 7.8 percent, respectively, the company said in a statement.

Soumitra Bhattacharya, Managing Director, Bosch, and President, Bosch Group, India, said, "As we look ahead to fiscal year 2023–24, we recognise the challenges that lie ahead due to the ongoing uncertainty caused by certain macro factors. Despite these challenges, we remain optimistic about the automotive market, which saw record production volumes in FY 2022–23. It also saw the good acquisition of projects catering to TREM5 and OBD2 regulations, resulting in a strong order book, for the next 3 to 5 years. We anticipate a moderate growth in India’s GDP, which will likely lead to a 5 to 6 percent increase in the automotive market."

She added that Bosch, they were confident in their ability to navigate these headwinds, particularly as they continue to see an increase in content per vehicle due to components supplied for exhaust gas treatment and the implementation of BS VI Stage 2. "With this in mind, we expect total revenue from sales to grow around 15 percent.”