Bosch posted its total revenue from operations of INR 4,158 crore in Q1FY24, an increase of 17.3% over the same quarter last year due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segment, which outperformed the market.
Its Profit Before Tax (PBT) stood at INR 533 crore, which is 12.8% of total revenue from operations, an increase of 21.7% over the same quarter of the previous year. PAT stood at INR 409 crore, which is 9.8% of revenue from operations.
Guruprasad Mudlapur, Managing Director, Bosch, and President of Bosch Group in India, said, “We are optimistic about the future as we navigate a rapidly changing global market with positive trends in the Indian automotive industry which is witnessing a shift towards premium vehicles and cleaner fuel options and electrification.”
As per the company, embracing change is crucial in India, which is emerging as a promising market and for green hydrogen and innovative automotive offerings.