Bosch has reported a significant 46 per cent year-on-year (YoY) decline in its consolidated net profit for the September 2024 quarter, which stood at Rs 536 crore, down from Rs 1,000 crore in the same period last year.
However, the auto components company posted a growth in revenue from operations, which rose to Rs 4,394 crore, compared to Rs 4,130 crore in the year-ago quarter.
The company attributed the dip in profits to various challenges faced by the automotive sector, including unpredictable rainfall and several macroeconomic factors that impacted overall industry performance. Despite these challenges, Bosch highlighted its ability to adapt to the changing market demands, maintaining high-quality solutions in line with customer expectations.
Guruprasad Mudlapur, Managing Director of Bosch, expressed confidence in sustained demand across all segments, especially with the approaching festive season. He also mentioned that Bosch is focusing on advanced technology investments and localisation efforts to strengthen its position in high-growth areas, ensuring its readiness to meet the evolving needs of the mobility landscape.
Looking forward, Bosch said it anticipates that the upcoming quarter will see continued demand driven by the festive period, further supporting its strategic initiatives and commitment to innovation.
