Bosch reports Rs 518 crore net profit in Q3FY24 on robust demand

Bengaluru-based Bosch Ltd., a major supplier to the automotive industry, reported a healthy demand across the segments with Rs 518 crore in net profit during the period ending December 2023, translating to 62.5% YoY jump over a similar period the previous year. The company's revenue during the same period went up by 14.9% YoY to Rs 4205 crore during the comparable period.

By Shahkar Abidi

15 Feb 2024

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Bosch reports Rs 518 crore net profit in Q3FY24 on robust demand

In an investor presentation, engineering and technology major Bosch stated that Q3 FY24 witnessed healthy demand across the segments, as overall volumes (except 2W) grew by +4% YoY. The 2W segment stood out with an impressive growth of more than 19% on a year-on-year basis, while tractors saw a decline of 13% YoY. Sequentially, quarterly volumes dipped across segments due to increased production in Q2FY24 for festive season demand, after which demand saw seasonal softness.

Bosch's mobility business has grown by 16.8% in Q3 FY 2023–24 versus Q3 FY 2022–23, primarily on account of increased market demand for passenger cars and HCV, where Bosch’s content per vehicle is higher.

The company further added that it has assembled and set up its first Fuel Cell Power Module (FCPM) for demonstration at its Research and development facility in Bangalore. The demonstrator will enable the company to capture system requirements for India, conduct functional tests, and help develop local competency in fuel cells.