Engineering and technology major Bosch reported net profit of ₹518 crore, marking a y-o-y increase of 62.43 per cent compared with ₹318.9 crore for the same quarter last year. The increase is driven by sales in the automotive segment.
The Board of Directors have declared a special payout in the form of an interim dividend of ₹205 per equity share of ₹10 each, company said in exchange filing.
Its revenue from operations grew by 14.89 per cent to ₹4,205 crore from ₹3,659.9 crore in the same quarter of last year.
On a sequential basis, revenue from operations increased marginally by 1.8 per cent from ₹4,130 crore in Q2 while net profit declined by 48 per cent from ₹998.9 crore in Q2.
Guruprasad Mudlapur, President of the Bosch Group, India, and Managing Director, Bosch Limited said, “Increased demand for vehicles has resulted in robust growth for Bosch Ltd this quarter. With a sustained focus on localisation in the mobility space and beyond, we are optimistic of the future and committed to delivering technologies and solutions that elevate the customer experience.”
Overall product sales of the automotive segment have increased by 16.8 per cent compared with the same quarter of the previous year.