Bosch Q4 net slides 39%

Bosch Group’s flagship company in India, Bosch Limited, on Wednesday reported decline of 39 per cent in its net profit at Rs 172 crore for the fourth quarter ended December 31, 2012 compared to Rs 281 crore in the corresponding quarter ended December 2011.

Total sales income was up 5.6 per cent for the fourth quarter at Rs 2,056 crore as against Rs 1,946 crore during the same period last year, while operating profit for the period declined 43.8 per cent to Rs 137 crore as against Rs 243 crore in the year-ago period.

For the full year ended December 2012, the company reported 14.6 per cent fall in net profit at Rs 958 crore, as against Rs 1,123 crore reported last year. Total revenues grew 6.4 per cent to Rs 8,511 crore during the year.

The Managing Director of Bosch Limited, Steffan Berns said, “The decline in profits was caused by higher material costs due to unfavourable exchange rates, higher depreciation on account of a higher capital base and employee costs,” adding, the company’s employee costs went up 1 per cent to 12.2 per cent of total sales during the year 2012.

The Board of Directors recommended a dividend of Rs 60 per share for 2012, as compared to Rs 50 per share in 2011.

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