Bosch logs net profit of 23.2%

Bosch logs net profit of 23.2%

Technology and services supplier Bosch has reported a net profit of Rs 1,245 crore for fiscal year 2015-16, up 23.2%, compared with last year.

The company also changed its financial year from January until December to April until March. Consequent to this, the financial year 2014-15 was reported for the period of 15 months from January 2014 until March 2015 and the current year was for 12 months period from April 2015 to March 2016.

 The company also reported an income from operations of Rs 10,415 crore for the past 12 months, an increase of 9.5% compared with the preceding 12 months period while the profit before tax increased by 23.6% and stands at Rs 1,859 crore.

On the quarterly basis, company’s standalone net profit increased by 30.8% to Rs 376 crore, compared with Rs 287 crore for last year. Income from operations stood at Rs 2,635 crore, an increase of 12.2% over the corresponding quarter of 2015, while the profit before tax (PBT) stood at Rs 561 crore, up 26% from Rs 443 crore, compared with the previous year.

“All business sectors of Bosch Limited developed positively in the past 12 months,” said Steffen Berns, Managing Director of Bosch Limited. “The domestic business of our company grew well above the production volumes of the automotive market again in this quarter. Exports declined due to weak demand from our export markets,” he added.

On the investment front, the company made capital investments of around Rs 480 crore in 2015-16, and plans a further investment of around Rs 770 crore this year at its plants in Bidadi and Nashik.

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