Tuesday, April 29, 2014: The first quarter has ended on a happy note for the German automotive major Bosch. The company reported the net profit of Rs 3260 million for the first quarter (January to March) this year. With this, the company registered a growth of 25 per cent year-on-year.
According to a press statement released by the company, Steffen Berns, managing director, Bosch, said, “Our net sales and income from operations during quarter (Q1) under review grew by 11 per cet YoY to Rs 24,310 million, with diesel systems posting double-digit growth.” The statement revealed that the domestic sales of the company increased by 8.6 per cent YoY. However, the exports grew by 35 per cent YoY and profit before tax rose 17 per cent YoY to Rs 4520 million.
Berns said, “The positive results for the quarter (Q1) reflect good performance of our diesel systems and gasoline systems divisions, as the former benefitted from strong tractor production and higher sales of vehicles fitted with our equipments.”
“The remaining three quarters of this fiscal will remain challenging to sustain growth as operating profits, which increased 4.3 per cent in first quarter, continues to be under severe pressure due to rupee depreciation, inflation and material cost increased,” he noted.
