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Quarter 3 Financial Results
Bosch Limited registered a 7.2 percent growth in gross sales and income from operations

 
 
 

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Rele Ameet Shashikant
Phone: +91 80 2299-9777

 

Roohie Menon
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2017-02-10 | India | Corporate News

  • Gross sales and income from operations grew by 7.2 percent in Quarter 3 of FY 2016-17 over the same period of the previous year
  • PAT from continuing operations stood at 7.6 percent of sales
  • Interim Dividend of INR 75 declared for FY 2016-17



Bangalore – Bosch Limited, a leading supplier of technology and services, posted gross sales and income from operations of INR 2,811 crores in Quarter 3 of financial year 2016-17, registering a 7.2 percent increase over the same period of the previous year.


In this reporting period, Profit Before Tax (PBT) from continuing operations stood at INR 299 crores or 10.6 percent of sales. For the same period, Profit After Tax (PAT) from continuing operations stood at INR 215 crores, a decrease of 23.5 percent over the same period of the previous year. PAT declined due to factors such as, decreased domestic demand, front-ended CSR expenses, cost of restructuring and higher depreciation.


“India’s overall auto production in the country grew by 1.4 percent as compared to the previous year (PY). In this context, Bosch Limited grew by 7.2 percent as compared to PY. Growth was driven by good developments in the tractor and heavy commercial vehicle market segments. Sales was influenced by the Indian automotive market which was impacted by the demonetization in the last quarter, especially in December.” said Mr. Soumitra Bhattacharya, managing director of Bosch Limited and president of Bosch Group in India. “We are well prepared for the changeover to BS4 in April, as well as for the transition to BS6 emission legislation with our products, experience and testing infrastructure facilities. We are working closely with our customers on BS6 projects. That apart, by focusing on strategic topics focusing on operational efficiencies and productivity improvements we will continue to remain fit for the future,” he further elaborated.


Snapshot of business divisions’ performance in Quarter 3

Overall, our Mobility Solutions business grew by 3.6 percent in this period. Main contribution was from Gasoline Systems which posted a strong double-digit growth.


The business divisions of the sectors beyond Mobility performed strongly with an overall growth of 25.3 percent. The company has been focusing on offering integrated cross-divisional solutions that target India‘s megatrends .


Interim dividend

The Board of directors in their meeting held on February 10, 2017 have declared a special payout in the form of an Interim Dividend of INR 75 per equity share of INR 10 each.

About Bosch Group

The Bosch Group is a leading global supplier of technology and services. It employs roughly 390,000 associates worldwide (as of December 31, 2016). According to preliminary figures, the company generated sales of 73.1 billion euros in 2016. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to create solutions for a connected life, and to improve quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 450 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 120 locations across the globe, Bosch employs 59,000 associates in research and development.

Additional information is available online at
www.bosch.com
www.iot.bosch.com
www.bosch-press.com
twitter.com/BoschPresse

About Bosch in India

In India, Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Additionally, Bosch has in India the largest development center outside Germany, for end to end engineering and technology solutions. The Bosch Group operates in India through nine companies, viz, Bosch Limited, Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Bosch Engineering and Business Solutions Private Limited, Bosch Automotive Electronics India Private Limited, Bosch Electrical Drives India Private Limited, BSH Home Appliances Private Limited, ETAS Automotive India Private Ltd. and Robert Bosch Automotive Steering India Pvt. Ltd. In India, Bosch set-up its manufacturing operation in 1951, which has grown over the years to include 15 manufacturing sites, and seven development and application centers. Bosch Group in India employs over 30,000 associates and generated consolidated revenue of about ₨.17,022 crores in 2015 of which ₨. 12,100 crores from third party. The Group in India has close to 14,000 research and development associates.

In India, Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over ₨. 10,415 crores (1.4 billion euros) in 2015-16.

Additional information can be accessed at www.boschindia.com