Bengaluru – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 3,201 crores in Quarter 2 of FY 2018-19, registering 13.8 percent increase over the same period of the previous year on a comparable basis. The Profit Before Tax (PBT) stood at INR 641 crores, registering a growth of 21.8 percent over the same period of previous year on account of higher turnover, improved operational efficiency and higher productivity, which was partially offset by negative exchange rate on material cost. The Net Profit After Tax (PAT) stood at INR 420 crores, an increase of 18.9 percent over the same period of previous year. For the half-year ended September 30, 2018, Bosch Limited posted a total revenue from operations of INR 6,413 crores, an increase of 17.5 percent over the same period of previous year. PBT stood at INR 1,290 crores and PAT stood at INR 851 crores.
“Bosch Limited’s performance in the first two quarters highlights our continued commitment to delivering best-in-class automotive solutions. With these, we are helping our customers to meet the challenge of manufacturing only vehicles compliant with BS VI emission standards from April 2020 as recently ruled by the Supreme Court. In the past quarter, Bosch has outperformed the industry in business beyond mobility sectors as well. As a recognized industry leader in many sectors, we will continue to present innovations across our business including IoT services and integrated mobility offerings,” said Mr. Soumitra Bhattacharya, Managing Director, Bosch Limited.
Snapshot of business divisions’ performance in Quarter 2
Bosch Limited’s Mobility Solutions turnover increased by 12.3 percent in Quarter 2 of FY 2018-19. The largest contributor were domestic automotive sales which have increased by 15.1 percent. Within the Mobility Solutions business, the Powertrain Solutions division performed especially well, registering double-digit growth of 10.3 percent. The Automotive Aftermarket division grew by 20.9 percent after recovering from impact of GST implementation last year.
Bosch’s business beyond the Mobility Solutions sector registered a strong double-digit growth of 14.3 percent. The main contributors were the Energy and Building Technology sector and the Power Tools division.
For the first half business year ended September 30, 2018, total turnover showed a growth of 18.0 percent. Sales of the Mobility Solutions sector increased by 16.3 percent whereas business beyond the Mobility Solutions sector witnessed a strong double-digit growth of 30.1 percent.
The Board also approved, subject to approval of the shareholders, buyback of upto 1,028,100 equity shares of the Company, on a proportionate basis by way of a tender offer at a price of INR 21,000 per equity share for an aggregate amount not exceeding INR 2,159.01 crores in accordance with the provisions of the Companies Act, 2013 and Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018.
