The technology supplier reported 13.92% increase in consolidated net profit to Rs 466.3 crore on 3.80% rise in revenue from operations to Rs 4,316.8 crore in Q1 FY25 over Q1 FY24.
Bosch's profit before tax grew by 14.70% year on year (YoY) to Rs 610.7 crore in the quarter ended 30 June 2024.On segmental front, revenue from automotive products stood at Rs 3,741.8 crore in Q1 FY25 (up 3.27% YoY) and revenue from consumer goods was at Rs 393.9 crore, (up 4.92% YoY).
During the quarter, the overall product sales in the automotive segment increased by 4.1% compared to the same quarter of the previous year. The Power Solutions business, which represents 72% of total automotive product sales, registered a growth of 2.3% YoY. This growth was driven by the continued consumer demand in the passenger car segment.
The mobility aftermarket business grew by 8.1% compared to the same quarter last year on account of increased market demand for new generation diesel components and strong performance in core product categories.
The Beyond Mobility business recorded a 5.8% increase in net sales over the same quarter of the previous financial year, driven by continued growth in the consumer goods product and building technologies segment.
Guruprasad Mudlapur, president and managing director of Bosch, said, The financial year commenced with moderate growth in automotive market despite the challenges of a high base from the previous year, a slowdown related to elections and the summer heatwaves. Continued demand in the passenger car segment, coupled with growth in production and wholesale, resulted in growth for Bosch, this quarter. However, retail sales have remained sluggish leading to a rise in the pipeline inventory. Despite the challenges, the overall sentiment in the automotive sector remains positive.
Further he stated, The optimistic growth in Indian economy with higher disposable incomes puts us in a sweet spot with the continued growth in demand for the auto sector. With sustained infrastructural investments, we are well positioned for growth in our power tools and building technologies businesses. Bosch will continue to strengthen its portfolio through localization and capitalize on the potential of alternate fuel technologies and electric vehicles to usher in a new era of mobility.
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In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.
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