BOSCH registers a revenue growth of 4.9 per for the fiscal which ended in 2018-19
Bengaluru, May 21(UNI) Bosch Limited, a leading supplier of technology and services, has achieved a 4.9 per cent revenue growth by earning Rs 12,258 Crore during the fiscal 2018-19 as compared to previous year.
Addressing newsmen here on Tuesday, Soumitra Bhattacharya, Managing Director, Bosch Ltd, said that the growth was made possible with improved operational efficiency, investment as well as one time exceptional expenses in previous year.
He said that the company had posted a total revenue of Rs 2749 crore in the quarter ending on March this year, which is a decline by 12.9 per cent as compared to the same quarter previous year.
Attributing the decline in profit mainly to the lower sales volume in view of negative market sentiments and an unfavorable development of exchange rates, he said, "The results in the last quarter of fiscal 2018-19 must be contextualized within the predominant weakness of the overall automotive market. The company was always been at the forefront of integrated automotive solutions and we are currently supporting our customers in developing vehicles that are compliant with the BS6 emission standards from April 2010 on as per the ruling of the Supreme Court."
Maintaining that overall automotive industry across the globe is facing a significant market, technological and regulatory headwinds, he said that the Bosch Beyond Mobility business sectors have shown a mixed performance
of profit and revenue loss in the last financial year.
About the Bosch business development during 2018-19, he said that the company's Mobility Solutions business sector increased the total revenue by 3.3 per cent based on the positive business sentiments during the first two quarters of the fiscal year.
He said that the domestic sales has increased by 4 per cent while export sales decreased by 4.5 per cent. Within the mobility solutions business, the Powertrain Solutions division had registered a moderate growth of 2.4 per cent driven by the overall automotive market development during the year. Apart from Mobility Solutions Energy and Building Technologies and machine building division posted a double digit growth and registered an overall growth of 16.4 per cent.
Considering the company's performance, the Board of Directors have recommended a dividend of Rs 105 per share, he added.