Bosch Ltd Q1 Results FY2023, Net profit at Rs. 334 crores
On 2nd August 2022, Bosch Ltd announced its quarterly results for the first quarter of FY2023.
Q1FY23 Key Highlights:
- The company posted total revenue from operations of Rs. 3,544 crores (419.4 million euros) in the first quarter of FY2022–23. This was an increase of 45.1% over the same
quarter of the previous year. This all-time high is due to the low base last year and
the easing of supply-chain bottlenecks, especially toward the end of the quarter, in
conjunction with a positive production in the tractor segment.
- Profit before tax stood at Rs. 438 crores (51.8 million euros) which constitute 12.3% of total revenue from operations; that is a growth of 30.5% YoY
- Profit after tax stood at Rs. 334 crores (39.5 million euros).
- The automotive market in Q1FY23 witnessed strong year-on-year growth on a Covid-impacted low base. The Automotive Aftermarket division also surpassed its peak with an increase of 61.3% due to a low base in Q1 FY 2021-22.
- The Beyond Mobility businesses recorded an increase of 53.6 % mainly due to growth in the Consumer Goods division by 48.6 %.
Commenting on the results, Soumitra Bhattacharya, Managing Director of Bosch Limited and President of the Bosch Group in India, said: “The strong momentum exiting FY2021-22 was sustained and further improved over the past quarter due to recovery in the overall automotive market. This has bolstered our confidence that we will surpass the peaks of FY2018-19.
With a steady order book and easing supply chain issues, we expect to maintain robust growth across revenue and free cash flows for the remainder of FY2022-23. Our focus is to maintain steady margins through strategic cost recovery across our supply chains.”
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