Bosch on Tuesday stated the elevated demand for vehicles had resulted in the sturdy progress in its third-quarter internet revenue. The firm posted a internet revenue of ₹518 crore, a 12.3% soar year-on-year. Revenue from operations grew 14.9% to ₹4,205 crore in the course of the third quarter of fiscal 2023-24 over the corresponding 12 months earlier quarter.
“This growth was driven by surging demand in the overall automotive market, mainly in passenger cars and the heavy commercial vehicle (HCV) segment. Increased demand for vehicles has resulted in robust growth for Bosch Limited this quarter,” stated Guruprasad Mudlapur, President of the Bosch Group, India, and Managing Director, Bosch Ltd.
In his commentary, he stated, the general product gross sales of the automotive phase had elevated by 16.8% in contrast with the identical quarter of the earlier 12 months. The Powertrain Solutions enterprise, which constituted 73% of the general automotive product gross sales, confirmed a progress of 20.4%, larger than the general automotive market progress pushed majorly by the passenger automobile phase because of a rise in content material per car. The Beyond Mobility enterprise recorded a 32.5% enhance in internet gross sales over the identical quarter of the earlier monetary 12 months, pushed by continued progress in the patron items product phase.
“’We strongly believe that the mobility sector will be integral to India’s development. Our focus on evolving technologies in the mobility sector has put Bosch Limited in a very good position in India,” Mr. Mudlapur stated, including, “Our commitment to technology and innovation places us at the forefront of shaping a connected and eco-friendly automotive landscape in India.” The Board of Directors, in their assembly held on February 13, 2024, declared a particular payout in the type of an interim dividend of ₹205 per fairness share of ₹10 every.
