<p>Leading global supplier of technology and services Bosch on Thursday reported a 10.22% decline in standalone net profit at Rs 440.47 crore for the fourth quarter ended March 31, 2017, compared with Rs 490.60 crore in the same period last fiscal.<br /><br />The decline was on account of higher tax expenses. On a consolidated basis, for the fiscal year ended March 31, 2017, net profit of the company increased by 13.7% at Rs 1,741.12 crore, compared with Rs 1,531.35 crore in the last fiscal year.<br /><br />The company’s total income from operations on a standalone basis during the quarter under review increased by 3.14% at Rs 2,780.20 crore, against Rs 2,695.43 crore in the same period, last year.<br /><br />Talking about the outlook for 2017, Bosch Managing Director Soumitra Bhattacharya said, “We continue to remain cautiously optimistic about the current financial year, while adopting necessary course correction. A progressive government focused on reforms, reducing interest rates, expectations of a normal monsoon and improved liquidity post remonetisation, substantiates our current outlook.”<br /><br />When asked about the GST rollout, Bhattacharya said the company is well-prepared for the same, led by an excellent cross-functional team. He added that they are anticipating short-term turbulence initially. “However, in the mid- and long-term, it will help the growth story of India,” he said.<br /><br />“This year, Bosch is planning a capital expenditure of Rs 550-600 crore, and R&D would be around Rs 200 crore,” he said. In the last financial year, Bosch invested close to Rs 300 crore in R&D. <br /><br />Bosch Group in India employs over 31,000 associates. It has around 440 subsidiaries and regional companies in approximately 60 countries and the group’s sales revenues in 2016 were €73.1 billion.<br /><br />Bosch has informed BSE that the Board of Directors has recommended a final dividend of Rs 90 per equity share for the financial year ended March 31, 2017. <br /><br />On Thursday, the shares of the company were trading at 2.68% up at Rs 23,406 on the BSE.<br />DH News Service</p>
<p>Leading global supplier of technology and services Bosch on Thursday reported a 10.22% decline in standalone net profit at Rs 440.47 crore for the fourth quarter ended March 31, 2017, compared with Rs 490.60 crore in the same period last fiscal.<br /><br />The decline was on account of higher tax expenses. On a consolidated basis, for the fiscal year ended March 31, 2017, net profit of the company increased by 13.7% at Rs 1,741.12 crore, compared with Rs 1,531.35 crore in the last fiscal year.<br /><br />The company’s total income from operations on a standalone basis during the quarter under review increased by 3.14% at Rs 2,780.20 crore, against Rs 2,695.43 crore in the same period, last year.<br /><br />Talking about the outlook for 2017, Bosch Managing Director Soumitra Bhattacharya said, “We continue to remain cautiously optimistic about the current financial year, while adopting necessary course correction. A progressive government focused on reforms, reducing interest rates, expectations of a normal monsoon and improved liquidity post remonetisation, substantiates our current outlook.”<br /><br />When asked about the GST rollout, Bhattacharya said the company is well-prepared for the same, led by an excellent cross-functional team. He added that they are anticipating short-term turbulence initially. “However, in the mid- and long-term, it will help the growth story of India,” he said.<br /><br />“This year, Bosch is planning a capital expenditure of Rs 550-600 crore, and R&D would be around Rs 200 crore,” he said. In the last financial year, Bosch invested close to Rs 300 crore in R&D. <br /><br />Bosch Group in India employs over 31,000 associates. It has around 440 subsidiaries and regional companies in approximately 60 countries and the group’s sales revenues in 2016 were €73.1 billion.<br /><br />Bosch has informed BSE that the Board of Directors has recommended a final dividend of Rs 90 per equity share for the financial year ended March 31, 2017. <br /><br />On Thursday, the shares of the company were trading at 2.68% up at Rs 23,406 on the BSE.<br />DH News Service</p>
