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Bosch Limited registers 22% revenue growth in Q2 CY11, Exports up by 25.6% |
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Written by Arjun
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Saturday, 06 August 2011 |
Bangalore: Bosch Limited has registered a revenue growth of 22.4% in the second quarter of CY 2011 over the same period of last year. The revenue growth is driven by good demand for diesel and starters & generators products coupled with a robust performance in exports.
"The impact of sharp rise in commodity prices and inflationary pressure was compensated by aggressive cost control measures coupled with less than proportionate increase in depreciation charge and substantial increase in treasury income. Due to these external factors we foresee major challenges in sustaining the same growth momentum in the second half of this year," said V. K. Viswanathan, Managing Director, Bosch Limited.
Net sales and income from operations in the second quarter of the year stood at Rs. 2024.1 crores, which is 22.2% higher than the corresponding period in FY 2011.
In the second quarter of CY 2011 Profit Before Tax (PBT) stood at Rs. 401.4 crores registering an increase of 28.8% compared to the same period of 2011 and Profit After Tax (PAT) at Rs. 278.9 crores, an increase of 32.9 % over the same period of previous year.
Starters and Generators posted record growth of 44.2% in Q2, CY 2011. Exports grew by 25.6% in Q1, CY 2011
The company’s Automotive Technology business witnessed a strong growth driven by good positive market development in this period. Notable among these were the significant contribution made by Diesel Systems and Starters & Generators. Additionally, Automotive Aftermarket, Power Tools, Security Technology and Packaging Technology business witnessed a strong double digit growth.
Overall, the sales grew by 26.7% in the second half year of 2011. The company posted net sales and income from operations of Rs. 4096.7 crores in Jan – June 2011. Profit before tax went up by 33.4% at Rs. 805.4 crores, compared to the second half of 2010.
V. K. Viswanathan stated that the next two to three months are going to be tough, in a separate interview. The company is not cutting back on recruitments or investments and it will be funded by Bosch's internal accruals. It has lined up a capex of about Rs 600 crore this year. The company continues to invest in research & development and capacity increase up across its five manufacturing units in India. |
