Bosch slumped 5.59% to Rs 13392.45 after the company reported a 27.28% fall in consolidated net profit to Rs 350.5 crore in Q4 FY22 from Rs 482 crore posted in Q4 FY21.
Revenue from operation stood at Rs 3,311 crore for the quarter ended 31 March 2022 as against Rs 3,215.9 crore during the same period in the previous year, registering a growth of nearly 3%.Profit before tax stood at Rs 431.4 crore in the fourth quarter, down by 32.59% from Rs 640 crore in the same period last year. The company reported a 10.37% rise in total expenses to Rs 2,972.2 crore in Q4 FY22 over Q4 FY21.
Bhattacharya said, We acknowledge and appreciate the various initiatives like PLI and scrappage policy implemented by the Government of India towards supporting the auto industry. It is vital to create a clear roadmap to support the industry to further invest and create a stable environment. While these policies have provided an impetus for the auto sector to accelerate growth, the constant changes in regulations have caused challenges for the industry in working towards achieving the set targets. It is imperative for the Government of India and the mobility ecosystem to align their vision and insights, and take steps in the direction of streamlining the auto industry's future.
The total product revenue of company's Mobility Solutions business sector decreased by a marginal 0.8% in the quarter ending on 31 March 2022. The total product revenue of business beyond the Mobility Solutions sector increased by 30.5%, with the Consumer Goods business sector increasing by 28.4%. This is mainly on account of increased e-commerce sales, demand for entry-level tools, and network expansion, the company stated in a press release.
On full year basis, the company recorded 153.17% surged in net profit to Rs 1,217 crore on a 21.26% rise in revenue from operations to Rs 11,781.6 crore in the year ended 31 March 2022 over the year ended 31 March 2021.
Speaking about the outlook for the upcoming fiscal year, Bhattacharya said, Bosch is investing in hydrogen-based technologies - both for mobility and stationary applications. We are in discussion with customers and partners in India to bring advanced hydrogen-based powertrain and fuel-cell technologies to the market. With electromobility set to go mainstream, Bosch has taken the first step towards introducing low-carbon transportation and aiding the construction of a sustainable and carbon-neutral mobility ecosystem in India. Having turned carbon neutral (scopes 1 and 2) globally in 2020, Bosch will continue to shape climate actions beyond its immediate sphere of influence and systematically induce a 15 percent reduction in upstream and downstream emissions (scope 3) by 2030.
Meanwhile, the board of directors of the company recommended a final dividend of Rs 210 per share that includes a special Dividend of Rs 100.
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Bosch is a supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.
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