Bosch Limited registers 14.1% profit before tax in Q1 FY 2024-25
by FWM
Total revenue from operations in Q1 of FY 2024–25 is up by 3.8% over the same quarter of previous year.
Profit after tax stood at 10.8% of total revenue from operations.
Bengaluru, India – 07.08.2024 Bosch Limited, a leading supplier of technology and services, today posted its total revenue from operations of INR 4,317 crores (481 million euros) in Quarter 1 of FY 2024–25, an increase of 3.8% over the same quarter of last year. This growth is driven by higher demand in the overall automotive market, mainly in passenger cars segment.
The Profit Before Tax stood at INR 611 crores (68 million euros) which is 14.1% of the total revenue from operations, an increase of 14.7% over the same quarter of previous year. The Profit After Tax (PAT) stood at INR 466 crores (52 million euros) which is 10.8% of the revenue from operations.
“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 Limited, 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,” said Guruprasad Mudlapur, President of the Bosch Group in India, and Managing Director, Bosch Limited. Snapshot of performance in Quarter 1
Overall product sales of the automotive segment have increased by 4.1% compared to the same quarter of the previous year. The Power Solutions business, which constitutes 72% of the overall automotive product sales, grew by 2.3% over the same quarter of previous financial year, driven majorly by passenger car segment due to continued consumer demand.
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 our 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.
“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,” adds Mudlapur.
