Bosch profit rise 22%

bosch

Bosch Ltd, a leading name in the realm of automotive technology, industrial technology, and consumer goods, has reported a strong financial performance for the first quarter of 2023. The company’s net profit rose by 22.4% year-on-year to reach Rs 408.9 crore. Total revenue also saw an upward trend, rising by 17.3% to stand at Rs 4,158.4 crore.

The improvement in financial performance was primarily attributed to increased sales of Exhaust Gas Temperature (EGT) components in the passenger car and commercial vehicle segment. The powertrain solutions business registered a growth of 12.5%, surpassing the overall automotive market growth. This result led to a 13.6% increase in the product sales of the automotive segment.

The two-wheeler business also experienced a remarkable sales recovery with a growth rate of 42.8%, aided by better distribution of semiconductor supplies due to the global economic crisis. Another highlight is the beyond mobility business, driven by continued growth in consumer products and government investments in infrastructure, which recorded a 21.5% increase in net sales.

Guruprasad Mudlapur, the Managing Director of Bosch and President of Bosch Group in India, expressed optimism about the company’s growth prospects, attributing it to India’s promising market and Bosch’s focus on green hydrogen and innovative automotive offerings.

Here are some additional details that you may want to include in your news article:

  • Bosch Ltd is a subsidiary of Robert Bosch GmbH, a German multinational engineering and technology company.
  • The company has a strong presence in India, with over 100,000 employees.
  • Bosch Ltd is a leading supplier of automotive components, industrial technology, and consumer goods.
  • The company is well-positioned to benefit from the growth of the Indian economy and the increasing demand for green technologies.