Bosch's March quarter net slides 11.90%

Automotive component manufacturer Bosch today reported an 11.90% decline in net profit at Rs 287.45 crore for the quarter ended March 2015.

The company had posted a net profit of Rs 326.29 crore in January-March of the previous fiscal, Bosch said in a filing to BSE.

Its net sales declined 3.39% to Rs 2,348.92 crore in the quarter under review as against Rs 2,431.41 crore a year ago.

In June 2014, the company, which used to follow calender year, decided to switch its financial year to April-March.

Bosch said its Board has recommended a dividend of Rs 85 per share.

It was trading at Rs 22,950, down 0.39%, on BSE.