 "Bosch")
Bosch, the Indian unit of German automotive supplier Robert Bosch GmbH, reported a jump in second-quarter profit on Thursday, helped by healthy demand for its automotive parts and a one-time gain from the sale of a business.
Net profit rose to Rs 999 crore ($119.95 million) for the quarter ended Sept. 30 from Rs 372 crore a year earlier, said the company, which makes a wide range of auto parts such as braking systems and batteries.
The company recognized a one-time gain of 7.85 billion rupees after selling its Project House Mobility Solutions business to Automobility Services and Solutions.
The profit before exceptional items and tax rose 9% to Rs 532 crore in the quarter.
Indian automakers saw higher demand for passenger and commercial vehicles during the quarter as well as easing semiconductor chip shortage, which helped boost volumes.
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Revenue from the company's mainstay automotive product segment rose 13%, fuelled by strong growth in the powertrain business that provides exhaust gas treatment components.
Through phase II of Bharat Stage 6 regulations, India implemented stricter emission norms that came into effect on April 1, raising demand for emission-related products.
Overall revenue from operations climbed nearly 13% to Rs 4,130 crore.
Sales in the two-wheeler business rose 18.6% on the back of easing semiconductor supplies, Bosch added.
Shares fell as much as 1.5% during the session but pared losses to close 0.6% lower after the results.
