Bosch Q1 Net Profit Declines 36.8% to Rs 704.9 Cr

New Delhi: Technology and services company Bosch Ltd on Monday reported a 36.8 per cent decline in consolidated net profit to Rs 704.9 crore in the first quarter ended June 30, impacted by a high base effect.

The company had posted a consolidated net profit of Rs 1,115.3 crore in the corresponding quarter of the last fiscal, Bosch Ltd said in a regulatory filing.

In the first quarter of the last fiscal, the company had recognised a total gain of Rs 556 crore on sale of its video solutions, access and intrusion, and communication systems business, it added.

Its consolidated revenue from operations in the first quarter stood at Rs 5,841.9 crore against Rs 4,788.6 crore in the same period a year ago, the company said.

Total expenses in the quarter under review were higher at Rs 5,125.8 crore compared to Rs 4,238.8 crore in the year-ago period, it added.

“Our business performance in the first quarter is driven by sustained demand across segments, particularly in passenger cars and commercial vehicles, along with increased sales in key product categories,” said Guruprasad Mudlapur, President of the Bosch Group in India, and Managing Director, Bosch Limited.

Noting that India’s automotive sector is undergoing a structural shift towards safer, cleaner and personalised vehicles, he said, “At Bosch, we are well positioned to support this transition by delivering high-value, future-ready solutions”.

In the first quarter, the company said overall product sales of the automotive segment increased by 25.7 per cent year-on-year. The power solutions business grew by 29 per cent, driven by a buoyant automotive market.

The two-wheeler business grew 41.4 per cent, mainly led by growth in value-added EMS (electronics manufacturing services) products, increased sales to premium motorcycle platforms and steady demand from major domestic OEMs, it added.

Bosch said its mobility aftermarket business increased 9.6 per cent, driven by strategic price positioning and the rollout of new schemes for key product categories, including lubricants and spark plugs.

The ‘beyond mobility’ business grew by 12.6 per cent in net sales over the same quarter of the previous financial year, led by robust demand for core products in the power tools segment, the company said.

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