Bosch Limited registers 16.3% growth in net sales in Q3

Domestic sales increased by 18.5 percent and export sales grew by 3.3 percent over Quarter 3, 2013.

 

Profit After Tax (PAT) stood at Rs. 306.4 crores, resulting in an increase of 30.8 percent as compared to Quarter 3, 2013. 

 

There has also been a substantial increase in the non-operating income due to higher sale of one time marketable securities and other treasury related income.

 

“Backed by strong growth in our Mobility Solutions business, previously Automotive Technology, and on a lower base from Quarter 3 2013, we have registered a healthy performance for the given quarter. This growth is well above the performance of the Indian automotive market for the quarter, which has benefitted from the good growth witnessed in the passenger cars and heavy commercial vehicle segment. The liquidity crunch in the market still remains a concern, especially in our trading business,” said Steffen Berns, managing director of Bosch Limited, announcing the company’s third quarter results.

 

The company’s Mobility Solutions business in India, which constitutes a major portion of its revenue, grew by 18.7 percent. Business divisions of Diesel Systems and Gasoline Systems performed especially well. 

 

“Our localization efforts, tight budgetary control and improvement in operational efficiency continue to yield good results. The current strike at our Bangalore plant has not affected the Quarter 3 performance, since it started in the last two weeks of the quarter ending September. It will have some minor effect in the subsequent quarter’s performance. We are keen to resolve the issues with our union as we look forward to sustaining our growth and competitiveness in the market,” stated Berns.