Net sales and income from operations stood at Rs. 2,104 crores in the third quarter of 2013, registering a growth of 3.6 percent

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  • Profit before tax at 15.4 percent of sales for the third quarter
  • Non-automotive business continues its growth momentum into the third quarter

Bangalore: Bosch Limited registered a growth of 3.6 percent on net sales and income from operations in the third quarter of 2013 at Rs. 2,104 crores over the same period last year. Profit Before Tax (PBT) increased by 16.0 percent in the third quarter as compared to the same period of 2012 and stands at Rs. 324 crores. Profit After Tax (PAT) is Rs. 234 crores, registering a growth of 15.5 percent over the same period of 2012. Exports increased by 19.5 percent in the same period mainly reflecting the depreciation in the rupee over the year.

“As anticipated, our current third quarter results are better than the previous year, as performance in the third quarter of 2012 had been sluggish. However, weak consumer demand, currency impact and further slowdown in the automotive market has led to a decline compared to previous quarter results.” said Dr. Steffen Berns, Managing Director, Bosch Limited, announcing the company’s quarterly results.

For the nine months ended September 2013, Bosch Limited registered an overall growth of 1.7 percent on net sales and income from operations at Rs. 6,564 crores. In the automotive segment, Starter Motors and Generators continued its strong double digit growth; Aftermarket managed a modest growth and Diesel Systems declined due to weak demand in the commercial vehicle and passenger car segment.

The non-automotive segment, including Power Tools, Packaging Technology and Energy Business continued its good growth during the nine months ended September 2013. These divisions have been gradually increasing their presence in the Indian market.

“Our effort to improve operational efficiency has continued to yield positive results in difficult market environment. During festive season consumer sentiment is expected to improve, but this will not be sufficient to generate a turnaround in the overall business situation. In spite of the current challenges, we continue to prepare ourselves for expected mid- and long-term growth through our investments in facilities and new product developments, coupled with continued cost optimization.” Dr. Berns added.

News Source : Net sales and income from operations stood at Rs. 2,104 crores in the third quarter of 2013, registering a growth of 3.6 percent

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