with a market valuation of 51,528.63 crore, Bosch Limited is a Large-cap company operating in the Consumer Discretionary industry. In India, Bosch is a leading provider of technology and services in the areas of consumer goods, energy and construction technology, industrial technology and mobility solutions. Today, the business announced its third quarter earnings as well as 200 per share to its eligible shareholders.
Bosch said in a stock exchange filing that “The Board of Directors at its meeting held today declared an interim dividend of INR 200/- per equity share payable each on 29,493,640 equity shares for the financial year 2022-23. They Shareholders whose names are recorded in the Register of Members of the Company as on the Record Date – Wednesday, February 22, 2023. The dividend will be paid on or after March 6, 2023.”
During Q3FY23, Bosch Ltd reported a total revenue from operations of Rs 3660 crore, a growth of 17.7% over the previous year. 3109.10 crore in the same quarter last year. Bosch said in a stock exchange filing that revenue from operations in the quarter was flat compared to the previous quarter due to a decline in net sales as a result of a seasonal effect in sales of passenger cars and tractors, which was offset by higher earnings from services and . Other operating revenue.
Profit Before Tax (PBT) was Rs 425 crore, which is 11.6% of the total revenue from operations, a growth of 26.48% over the previous year. 336 crore in the year-ago quarter, while the profit after tax (PAT) was Rs 319 crore, which is 8.7% of the revenue from operations and net profit in the same quarter last year 235 Cr, representing a growth of 35.74% YoY.
Bosch said that the earnings before interest and tax (EBIT) in Q3FY23 reached INR 295 crore, down 12.9% compared to the previous sequential quarter impacted by one-time costs such as warranty claims and unfavorable exchange rates.
“Several macroeconomic factors will make 2023 a challenging year. There are possibilities of a global recession, and India will not be immune to these effects. Despite these uncertainties, revenue for the current quarter is in line with the projected quarterly forecast. With a strong performance in all quarters this financial year, Bosch in India will continue on a strong growth trajectory and focus on optimizing its costs to deliver sustained profitable growth and cash flows in the future,” Soumitra Bhattacharya, Managing Director of Bosch Limited and Chairman of the Bosch Group in India.
Continuing the development story, Soumitra Bhattacharya, Managing Director, Bosch Ltd. and President, Bosch Group in India, said, “The recent budget is a testament to the government’s intent to focus on green growth in India and promote sustainability. Bosch is also leading the way. This change by creating an ecosystem for new age technologies in the mobility space. In addition, the government’s efforts to build a strong transport infrastructure will also drive further growth in the Indian automotive market. “
Bosch shares closed today on NSE up 0.07% from the previous close of 17,420.20 17,408.10.
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