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Bosch Q3 PAT up by 19.3pct at Rs 335 crore

Auto News - Published on Fri, 15 Feb 2019

Image Source: Moneycontrol
Auto solution provider Bosch reported a 19.3 per cent jump in its standalone net profit after tax at INR 335 crore for the third quarter ended December 31, 2018. The company posted INR 281 crore standalone PAT in Q3 2017. Company's revenue from operations, however, saw a marginal growth of 0.8 per cent at INR 3,096 crore in the third quarter of FY'19 compared to INR 3,072 crore in Q3 of the previous fiscal.

Commenting on the quarterly performance, Soumitra Bhattacharya, Managing Director, Bosch said "The result of this quarter has to be viewed in the context of particularly weak market conditions in the overall automotive sector. We are helping our customers to meet the challenge of manufacturing only vehicles compliant with BS VI emission standards."

During the period under review, the company's mobility solutions turnover decreased by 0.6 per cent. The technology provider informed that its mobility division exports witnessed an increase of 6.5 per cent but it is offset by lower domestic mobility sales which was down by 1.1 per cent.

Within the Mobility Solutions business, the powertrain solutions division declined by 2. 7 percent mainly due to weak automotive market and Automotive Aftermarket division grew by 5.8 percent.

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Posted By : Joykumar Irom on Fri, 15 Feb 2019
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