Register to Subscribe



Home arrow Auto component arrow Bosch Ltd Starters and Generators posts record growth of 73% in Q3 2011
Bosch Ltd Starters and Generators posts record growth of 73% in Q3 2011 Print E-mail
Written by James   
Wednesday, 09 November 2011
Bangalore: Bosch Limited has registered a revenue growth of 14.5% in the third quarter of 2011 over the same period of last year despite a significant slowdown in most segments of the automotive market. The revenue growth is driven by good performance by the Starters and Generators Division. Diesel Systems has also contributed to revenues with growth of 13 %. Automotive Aftermarket division business grew by 13 %.

Net sales and income from operations in the third quarter of the year stood at Rs. 1969.5 crores, which is 15.4% higher than the corresponding period in 2010.

"The trying conditions prevalent in the economy have impacted every sector including the automobile sector. Bosch Limited has been able to maintain reasonable growth despite slowing growth in the automotive sector. With dedicated focus in India, Bosch Limited will continue investing in capacity expansion, diversification and portfolio extension in order to cater to the market with better technologies for enhancing the quality of life.," said V. K. Viswanathan, Managing Director, Bosch Limited.

In the third quarter of 2011 Profit Before Tax (PBT) stood at Rs. 405.8 crores registering an increase of 21.7% compared to the same period of 2010 and Profit After Tax (PAT) at Rs. 288.1 crores, an increase of 22.0%.

Overall, sales grew by 22 % in the first nine months of 2011. The company posted net sales and income from operations of Rs. 6066.2 crores in Jan – September 2011. Profit before tax went up by 29.3% at Rs. 1,211.2 crores and Profit after tax was up by 29.8% at Rs.841.4 crores, over the corresponding period of last year. Treasury income has also significantly contributed to revenues. Income from treasury rose by 71% in Jan – September 2011 as compared with the same period last year.

In the non-automotive business - Packaging Division business grew by a record 49 % during the quarter albeit on a small base. Additionally, Power Tools and Security Technology have seen 19 % and 17 % growth respectively in Q 3, 2011.

In May 2011, the Bosch Group announced investments totalling Rs.300 Crores to provide support for universities and research projects in Germany, China, India, and the U.S. over the next ten years. Some Rs.140 Crores, and therefore the lion’s share of the total budget, was allotted to India for a ten-year development project aiming to set up the independent “Robert Bosch Center for Research in Cyber Physical Systems” at IISc in Bangalore.

“By establishing this center, we reiterate our commitment and responsibility to the society we live in. Technology solutions need to keep pace with life, and at the same time young talented researchers need our assistance. We are happy to be in a position to support research and innovation in cutting edge futuristic technologies that benefit the society and environment,” said VK Viswanathan.

“With our funding for higher education in India, we want to challenge the spirit of innovation amongst future technology specialists,” said Mr Vijay Ratnaparkhe, the Managing Director of Robert Bosch Engineering and Business Solutions Limited.

 
Related news
More recent
Earlier on
< Prev   Next >

Sponsors

Mazak - The world's largest machine tool builder
JYOTI - India's most dynamic machine builder
TaeguTec - Cost effective tooling solutions
Advertisement

<< SHARE

Social

AD

Subscribe

Subscribe to MACHINIST by Email

Search

 
RSS 1.0
© 2017 MACHINIST
This site is best viewed with Firefox 2.0 or higher at a minimum screen resolution of 1024x768