Auto component manufacturer Bosch India on Tuesday reported 30 per cent decline in net profit for the third quarter ended September 30 at Rs 203 crore compared with Rs 288 crore in the same period last year.
However, net income rose by three per cent to Rs 2,052 crore against Rs 1,991 crore in July-September 2011, the company said.
The company follows calendar year as its financial year.
“The sharp slowdown in the commercial vehicles and tractor segments in the domestic market and weak business condition in Europe took a toll on the company’s performance,” said V.K. Viswanathan, Managing Director.
The company’s shares closed at Rs 8,887.85 on the BSE on Tuesday, down 0.16 per cent from the previous close.