 "Bosch")
Continued demand within the passenger automobile section, coupled with development in manufacturing and wholesale, resulted in development for the corporate within the first quarter | Consultant Picture
Auto elements maker Bosch on Tuesday mentioned its consolidated revenue after tax rose 14 per cent to Rs 466 cr for the primary quarter ended June 30, 2024.
The corporate had reported a revenue after tax of Rs 409 cr within the April-June quarter of final fiscal.
Complete revenue rose to Rs 4,496 cr for the interval underneath assessment as in contrast with Rs 4,346 cr within the year-ago interval, Bosch Ltd mentioned in a regulatory submitting.
“The monetary yr commenced with reasonable development within the automotive market regardless of the challenges of a excessive base from the earlier yr, a slowdown associated to elections and the summer season heatwaves,” Bosch Ltd Managing Director Guruprasad Mudlapur mentioned.
Continued demand within the passenger automobile section, coupled with development in manufacturing and wholesale, resulted in development for the corporate within the first quarter, he added.
“Nevertheless, retail gross sales have remained sluggish resulting in an increase within the pipeline stock. Regardless of the challenges, the general sentiment within the automotive sector stays constructive,” Mudlapur acknowledged.
The expansion within the Indian financial system with greater disposable incomes places the corporate in a candy spot with the continued development in demand for the auto sector, he famous.
“With sustained infrastructural investments, we’re effectively positioned for development in our energy instruments and constructing applied sciences companies,” he added.
Bosch will proceed to strengthen its portfolio by way of localization and capitalize on the potential of alternate gas applied sciences and electrical autos to usher in a brand new period of mobility, Mudlapur mentioned.
Shares of Bosch on Tuesday ended 1.09 per cent up at Rs 32,700 apiece on the BSE.
(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)
First Printed: Aug 06 2024 | 11:11 PM IST
