Bosch Q3 net profit rises 99% to Rs 221 crore

Auto component maker Bosch on Friday said its standalone net profit rose up 99.13% to Rs 220.77 crore in the third quarter(Q3) ended December 31.

The company had posted a net profit of Rs 110.87 crore in the same period last fiscal, Bosch said in a BSE filing.

Net sales during the period under review rose by 13.27% to Rs 2,697.89 crore as against Rs 2,381.64 crore in the same period a year ago.

Revenue from the automotive products stood at Rs 2,311.33 crore compared with Rs 2,064.99 crore, the company said, adding revenue from other businesses was at Rs 425.58 crore as against Rs 336.03 crore.

Bosch said its board has also approved the in-principle transfer of the starter motors and generators business under the automotive products segment to a wholly-owned arm, Robert Bosch Starter Motors Generators Holding GmbH, which is being incorporated for a lumpsum consideration of Rs 486.2 crore.

On Friday, the stock of Bosch closed down 4.97% or Rs 844.25 at Rs 16,133.20 on the BSE.