Auto parts’ maker Bosch has posted a 99 per cent increase in net profit to Rs 221 crore during the third quarter of the fiscal on the back of higher sales and benefit from organisational restructuring. The company had posted a net profit of Rs 110.87 crore in the same period last fiscal.

A press release from the company on Friday said net sales and income grew 12.8 per cent to Rs 2,651 crore in the quarter under review.

The company also announced that its board has approved the transfer of its start motors and generators’ division to a standalone Bosch subsidiary. The proposed transaction is part of the planned global realignment of the Starter Motors and Generators division.

Dr. Steffen Berns, managing director of Bosch Limited said even though the development of the automotive market remained subdued, the company will continue its proactive spends on capex for infrastructure and technology. “The market performance of the coming quarters will be determined by factors such as the implementation of key legislation and execution of infrastructure projects,” he said.

He said the company is keeping a close watch on the developments regarding the BS6 emission legislation. “We support the introduction of BS6 emission norms by 2020 and have the right products, experience and testing infrastructure to meet the emission standards,” Dr Berns said.

As far as segmental revenues are concerned, the company’s mobility solutions business grew 10.7 per cent and outperformed the automotive production volumes, which grew only 1 per cent in this period. The Gasoline Systems and Automotive Aftermarket divisions registered double digit growth in the quarter. The business divisions of the sectors beyond mobility solutions grew 21 per cent. In spite of tight liquidity in the market, the trading business picked up in the third quarter, the statement said.

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