India's Bosch posts Q4 profit rise on higher demand

BOSCH

24/05/2024 13:23

BENGALURU, May 24 (Reuters) - Bosch  BOSH.NS , the
Indian arm of German automotive supplier Robert Bosch GmbH,
reported a 41.5% climb in fourth-quarter profit on Friday,
helped by better demand for its automotive products and consumer
goods.
        Net profit rose to 5.65 billion rupees ($67.99 million)
in the quarter ended March 31 from 3.99 billion rupees a year
earlier for the company, which makes auto parts and accessories
for cars, two wheelers and railways among others.
  
    India's total vehicle production during the January-March
period rose over 21%, which in turn also helped expand the auto
parts demand. 
    "The resilient uptick (in revenue in the year) was fuelled
by increased demand for passenger cars and consumer goods
product segment," company said in a statement. 
    Revenue from operations grew 4.2% to 42.33 billion rupees,
pushed up by 2.8% rise in the moneymaker automotive products
segment, while smaller consumer goods segment grew 10.1%.
    Total expenses rose 3.6% in the quarter.
        Shares of Bosch closed down 0.1% ahead of results, while
it had gained 38.9% in the year so far.
    
    

($1 = 83.1000 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru; Editing by
Nivedita Bhattacharjee)
 ((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))