The company recorded an exceptional gain of ₹556 crore from the transfer of its “Video solutions, Access and Intrusions and Communication systems” unit during the quarter.
Revenue from operations rose 10.9% to ₹4,788 crore from ₹4,316.8 crore in the same period last year. Operating profit (EBITDA) also saw a strong uptick of 22.3% year-on-year to ₹639.8 crore, while EBITDA margin improved to 13.3% from 12.1%.“Our performance in the first quarter reflects strong growth, driven by increased revenue, higher demand in passenger cars and a reduction in material costs enabled by favourable product mix. This results from our consistent efforts to strengthen our core businesses while remaining focused on future-ready technologies,” said Guruprasad MudlapurPresident of the Bosch Group in India and Managing Director, Bosch Limited.
Also Read: Aurobindo Pharma Q1 Results: Misses estimates, revenue up 4%; declares dividendAutomotive product sales rose 14.3% YoY, led by a 13.7% growth in the Power Solutions vertical, which includes products for off-highway and passenger vehicles. The mobility aftermarket business grew 5.2% due to higher demand for gasoline systems, comfort electronics, and wipers.
However, the Beyond Mobility segment saw a 9.3% decline in net sales, primarily due to the divestment of certain units under the Building Technologies portfolio, as part of Bosch’s global realignment strategy.
Ahead of the earnings announcement, shares of Bosch Ltd ended 2.03% higher at ₹41,210 apiece on the NSE.
