Bosch, the Indian arm of German automotive supplier Robert Bosch, reported a 41.5 per cent climb in fourth-quarter profit on Friday (May 24), helped by better demand for its automotive products and consumer goods.
Net profit rose to 5.65 billion rupees (S$91.8 million) in the quarter ended March 31 from 3.99 billion rupees a year earlier for the company, which makes auto parts and accessories for cars, two-wheelers and railways among others.
India’s total vehicle production during the January-March period rose over 21 per cent, which in turn also helped expand the auto parts demand.
“The resilient uptick (in revenue in the year) was fuelled by increased demand for passenger cars and consumer goods product segment,” company said in a statement.
Revenue from operations grew 4.2 per cent to 42.33 billion rupees, pushed up by 2.8 per cent rise in the moneymaker automotive products segment, while smaller consumer goods segment grew 10.1 per cent.
Total expenses rose 3.6 per cent in the quarter.
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Shares of Bosch closed down 0.1 per cent ahead of results, while it had gained 38.9 per cent in the year so far. REUTERS
