JOIN USAutomobile component manufacturer Bosch on Monday reported net profit after tax of Rs 306.68 crore for the second quarter ended June 30 2014, a 21.85 per cent rise as compared to Rs 251.68 crore in the corresponding period last year.
Sequentially, however, the company’s net profit dipped 6 per cent from Rs 326.29 crore in the quarter ended March 31, 2014. Total income for the second quarter rose 3.86 per cent to Rs 2,394.41 crore as compared to Rs 2,305.34 crore in June last year.
Net sales dropped to Rs 2,354.61 crore for the first quarter ended June 2014 from Rs 2,431.41 crore in the first quarter of this year.
Managing Director, Bosch, Steffen Berns said, “Sales have been subdued in the second quarter due to limited customer demand and tight liquidity in the market. The third and fourth quarter will be challenging, but we believe that the consumer sentiments and markets are headed in the right direction.”