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MACHINIST - Bosch Limited registers 32.3% revenue growth in third quarter of 2010

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Home arrow News arrow Business News arrow Bosch Limited registers 32.3% revenue growth in third quarter of 2010

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Bosch Limited registers 32.3% revenue growth in third quarter of 2010
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Written by Arjun   
Thursday, 28 October 2010

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Bosch to expand capacities to meet growing demand.

Bangalore: Bosch Limited has registered a revenue growth of 32.3% in the third quarter of 2010 over the same period of last year. The revenue growth has once again been particularly strong in its Diesel business with a growth of 38% in the third quarter compared to the same period in 2009.

"The growth in the economy has been very encouraging and market sentiments are extremely positive. This is reflected in the impressive growth of the overall automotive market. All segments, be it commercial vehicles, passenger cars or tractors – have registered all time high numbers," said V. K. Viswanathan, President, Bosch India and Managing Director, Bosch Limited.

The company plans to expand capacities to meet growing demand. Nearly Rs 1300 crore will be invested in Bosch Limited from 2010 to 2012. Bosch Limited operates in Automotive Technology, Industrial Technology and Consumer goods & Building Technology business sectors.

Mr. Vishwanathan further added that to secure its future growth the company will continue to invest with focus on human resource development and nurturing of talents. In the current financial year itself the company has hired nearly 1000 employees.

All the companies facilities, except the one in Goa, are running on a  three shift basis.

The Bosch Group operates in India through six companies, viz, Bosch Limited, Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Robert Bosch Engineering and Business Solutions Limited, Bosch Automotive Electronics India Pvt Ltd, Bosch Electrical Drives India Pvt Ltd.

The five other group companies (excluding Bosch Limited) will see a consolidated investment of Rs 1000 crores.

Businesses from Gasoline systems, Automotive Aftermarket, Power Tools and Security Technology divisions have performed very impressively, clocking robust double digit growth in the third quarter of 2010.

"The company plans to expand capacities further wherever required and will introduce innovative and market relevant products to meet the growing needs of the automotive industry especially in view of the implementation of the new legislative norms for emissions," he said.

In India Bosch has set up 13 manufacturing sites and 4 development centres employing some 19000 associates and generating a consolidated revenue of over Rs. 6400 crore in 2009 with Bosch Limited revenue alone nearly 4850 crores.

Net sales and income from operations in the third quarter of the year stood at Rs.1,707.0 crores which is 32.3% higher than the corresponding period in 2009. Profit before tax at Rs.333.3 crores, registered an increase of 24.3% compared to the same period last year. Profit after tax at Rs.236.1 crores posted an increase of 21.1% compared to the same period last year. For the nine months of 2010, the company achieved net sales and income from operations of Rs.4,943.5 crores. Profit Before Tax stood at Rs.936.8 crores; an increase of 59.4% compared to nine months of 2009 and accounted for 18.9% of net sales and income from operations compared to 16.8% for the nine months ended Sept 2009. The Profit After Tax stood at Rs. 648.4 crores posting an increase of 49.9%, accounting for 13.1% of net sales and income from operations as compared to 12.3% for the previous nine months.

Overall, the growth for the nine months of 2010 is 41.1%.

 
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