Bosch Ltd. registered a growth of 5.2 per cent on net sales and income from operations in the second quarter of 2013 over the same period last year at Rs. 2,269 crores in India. Profit before tax (PBT) increased by 7.1 per cent and stands at Rs. 366 crores for the second quarter as compared to the same period of 2012. Profit after tax (PAT) is Rs. 252 crores, registering a growth of 1.7 per cent over the same period of 2012. Exports increased by 14 per cent in the second quarter.
“In the second quarter of this year, we managed to achieve greater than 5 percent growth despite the overall weak market conditions. The automotive market benefited from the increase in tractor and 3-wheeler segments, but overall remained weak due to a decline in passenger cars and heavy commercial vehicles,” said Dr. Steffen Berns, Managing Director, Bosch Ltd., announcing the company’s quarterly results.
The focus on expanding and developing the non-automotive product portfolio has resulted in positive yields. All divisions across the non-automotive segment have registered a double-digit growth. “The positive momentum in Bosch India was mainly driven by the strong growth of our non-automotive business. Exports have seen a positive trend in this quarter. Overall, we anticipate moderate growth for the next two quarters compared to the weak last half of 2012,” Dr. Berns added.
Registering an overall growth of 0.8 per cent at Rs. 4,460 crores on net sales and income from operations in the first half of 2013, the company is confident of its growth in the region from a mid and long-term perspective.
Commenting further, Dr. Berns added, “Facing the difficult market environment, we are continuously taking steps to improve our operational efficiency. The rupee depreciation to the USD has put additional burden on our bottom line. However, we will continue to invest for a sustained long-term growth. The overall business environment will remain challenging during 2013.”