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The company said that the revenue from operations in the first quarter has been higher compared to the previous quarter, mainly due to increased sales of Exhaust Gas Temperature (EGT) components in passenger cars and commercial vehicle segment, outperforming the market.
Profit before tax grew by 21.7% year on year to Rs 532.40 crore in the quarter ended 30 June 2023.
The Powertrain Solutions business registered a growth of 12.5% over same quarter of previous financial year outperforming the overall automotive market growth. This has resulted in an increase of 13.6% in the product sales of the automotive segment.
The Beyond Mobility business, driven by continued growth in consumer products and significant government investments in infrastructure, recorded a 21.5% increase in net sales over same quarter of previous financial year.
Speaking about the outlook for the upcoming fiscal year, Mudlapur commented: “Bosch is poised to embrace the transformative changes ahead of us. Cleaner fuels, green hydrogen and electrification take center stage in our commitment to a climate-neutral future. Bosch India will showcase the BS6 stage 2 hydrogen engine truck, by early 2024. This is also exemplified by the successful launch of our first hydrogen-powered demonstrator vehicle in India in June 2023 which comes after the announcement about the launch of the pilot Hydrogen Engine Testing infrastructure in Bengaluru later last year.”
In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.
The scrip rose 0.48% to Rs 19,064 on the BSE.
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