Aided by the huge demand for automobile components from the commercial vehicles and passenger car makers, Bosch Ltd, the Bangalore-based supplier of automobile components and fuel injection systems to major OEMs, today announced 35 per cent rise in its net profit at Rs 274.3 crore for the first quarter-ended March 31, 2011, compared to the corresponding quarter last year. Its total income for the quarter rose from Rs 1,614.7 crore to Rs 2,097.1 crore, a rise of 29.7 per cent over the first quarter of last year.
The growth has been witnessed in all segments of the automotive market and non automotive market, resulting in an impressive increase in overall business. Consistent and all time performer - the Diesel Systems business posted an impressive growth of 37 per cent.
Other businesses namely Automotive Aftermarket, Power Tools and Security Technology divisions also saw robust double digit growth of 22.7 per cent, 29.2 per cent and 41.2 per cent respectively. Gasoline Systems division clocked growth of 9.9 per cent. Profit before tax is Rs 404.1 crore (19.5 per cent of nets sales and operating income from operations), an increase of 38.4 per cent compared to the same period last year. “Overall, good growth has continued in the first quarter of this year as well,” the company said in a statement.
BEL gets D&B-Rolta award
Defence PSU Bharat Electronics Ltd (BEL) has won the Dun & Bradstreet-Rolta Corporate Award under the ‘Electrical and Electronic Equipment’ category for the year 2010. Ashwani Kumar Datt, Chairman & Managing Director, BEL, received the award at a function held in Mumbai last week. The awards felicitated 54 of India’s leading corporate names across sectors. The occasion also marked the launch of the eleventh edition of Dun & Bradstreet’s publication, ‘India’s Top 500 Companies 2010’.
Strides gets US regulator approval for facility
Bangalore-based pharmaceutical company Strides Arcolab has received US health regulator's approval for its oncology facility in Bangalore. This approval will help to strengthen its specialty business, the company said in a release here.
