Bosch Ltd., a leading supplier of technology and services, posted net sales and income from operations of Rs. 2,651 crores in the third quarter of FY 2016, registering a 12.8 per cent increase over the same period of the previous year.
During the quarter, profit before Rs. 321 crores or 12.1 per cent of sales. Profit after tax (PAT) was Rs. 221 crores or 8.3 per cent of sales, an increase of 99 per cent. Improved sales as well as other factors such as the reduction in employee benefit costs, realization of benefits from organizational restructuring undertaken in the previous year and a low base in 2014 due to one-time effects, have contributed to this encouraging performance.
“Bosch Ltd. has registered a healthy growth in the quarter ended December 2015. Our focus on operational efficiencies and productivity has continued to yield good results,” said Dr. Steffen Berns, Managing Director. “Although development of the automotive market remained subdued, we continue our proactive spends on capex for infrastructure and technology. With our motivated and competent employees, we are well prepared for the future. The market performance in the coming quarters will be determined by factors such as implementation of key legislation and execution of infrastructure projects,” said Dr. Berns.
“We are keeping a close watch on the developments regarding the BS6 emission legislation. We support introduction of the BS6 emission norms by 2020 and have the right products, experience and testing infrastructure to meet the emission standards,” he added.
The Board has approved transfer of the Starter Motors and Generators division to standalone Bosch Subsidiary.