Bosch's India unit posts higher first quarter profit on automotive demand
Bosch's India unit posts higher first quarter profit on automotive demand Aug 10 (Reuters) - Bosch Ltd BOSH.NS, the Indian unit of German auto supplier Robert Bosch, posted a 12% rise in adjusted first-quarter profit on Monday, driven by robust demand in passenger cars and commercial vehicles.
The Bengaluru-based company posted profit before tax and exceptional items of 9.39 billion rupees ($98.53 million) for the quarter ended June 30, from 8.38 billion rupees a year earlier.
Here are some key details:
The company said revenue from operations rose 22% to 58.42 billion rupees, while total expenses rose 21%, due to a rise in the cost of raw materials.
Bosch is India's top auto parts maker by market cap, manufacturing components and accessories for cars, two-wheelers and railway systems, among other sectors.
Its automotive products segment, which contributes to the bulk of its total revenue, grew 23.3% to 52.34 billion rupees.
The auto components maker recorded a one time gain of 5.56 billion rupees tied to the sale of its video solutions business in the year-ago quarter.
Indian automakers saw a rise in demand following tax cuts last year. Analysts expect the momentum to continue into the first half of 2027, supporting robust orders for component suppliers such as Bosch.
($1 = 95.3000 Indian rupees)
(Reporting by Mridula Kumar and Payel Das in Bengaluru; Editing by Ronojoy Mazumdar)
((mridula.kumar@thomsonreuters.com))
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