Auto components maker Bosch today reported 30.7% rise in net profit to Rs 1,122.6 crore for 2011.
The company's net sales were Rs 8,017.90 crore, a growth of 19.7% for the year, as compared 2010, Bosch Managing Director VK Vishwanathan told reporters here.
He said growth had declined in the last two quarters (July-December) due to economic slowdown, tight liquidity, high interest rates, increase in fuel prices and adverse market sentiments.
The company's overall exports grew 22.3% to cross the Rs 1,000 crore mark on the back of strong demand from markets in Germany, China, Brazil and Korea, he said.
The company’s Board of Directors have recommended a higher dividend of Rs 50 per share against Rs 40 per share announced for 2010, Vishwanathan said.
"This is over and above the one-time special dividend of Rs 85 per share paid in June 2011," he added.
More From This Section
On capital expenditure, Vishwanathan said Bosch is gearing up to capitalise on the opportunity of economy rebounding, leading to improvement in the automotive sector, which would serve all market segments with innovative product offerings and solutions.
"We have invested nearly Rs 660 crore in 2011 for capacity expansion and other activities in India," he said.