Bosch Net Profit Jumps 140% On Year In June Quarter On One-Time Gain

Bosch Ltd. on Monday reported a 140% year-on-year surge in net profit to ₹11.15 million for the June quarter, driven by a one-time exceptional gain of ₹5.6 million from the sale of its video and communication systems businesses. This marked its best bottom-line performance in seven quarters and reversed three straight quarters of decline.

Excluding the exceptional item, profit rose nearly 20% on year to ₹5.59 million.

Revenue from operations for the April–June period rose 11% on year to ₹47.89 million, though it was down over 2% sequentially. The company also saw a 61% year-on-year jump in other income to ₹2.88 million, taking total income to ₹50.77 million, up 13%.

Total expenses grew 9% on year to ₹42.39 million. Material costs rose 18% to ₹11.24 million, while other expenses climbed 22% to ₹8.24 million. Employee benefit costs rose just 1% to ₹3.4 million.

Automotive product sales grew 13% on year to ₹42.46 million, and consumer goods sales rose 9% to ₹4.31 million. EBITDA stood at ₹6.39 million, up from ₹5.2 million a year ago. Bosch attributed the EBITDA growth to revenue rise and lower material costs.

Production volume for the quarter rose 6% on year to 2.07 million units, and Bosch expects this to increase to 2.36 million units in the ongoing quarter.