New Delhi: Technology and services company Bosch Limited today announced that the company’s consolidated net profit for the first quarter ended June 30 fell 36.8 percent to Rs. 704.9 crore.
In the same quarter of the previous financial year, the company had posted a consolidated net profit of Rs. 1,115.3 crore. In the first quarter of the previous financial year, the company recorded a profit of Rs. 556 crore from the sale of its video solutions and communication systems division.
In the first quarter, consolidated revenue from operations stood at Rs. 5,841.9 crore. In the same period last year, it was Rs. 4,788.6 crore. During the quarter under review, total expenses stood at Rs. 5,125.8 crore, compared with Rs. 4,238.8 crore in the same period last year.
In the first quarter, the company said the automotive division’s overall product sales increased by 25.7 percent year on year. Driven by strong growth in the automotive market, the company’s 'Power Solutions' business segment also grew by 29%.
The company’s two-wheeler business segment grew by 41.4 percent. Driven by strong demand for key products including lubricants and spark plugs, the ‘mobility aftermarket’ business also grew by 9.6 percent.
Meanwhile, the company said that net sales in the ‘beyond mobility’ business rose by 12.6 percent compared with the same period of the previous financial year, due to increased demand for key products in the power tools segment.
