Total revenue from operations in Q1 of FY 2022–23 increased by 45.1 percent over the same quarter of previous year.

„  Profit after tax stood at 9.4 percent of total revenue from operations.

„  Bosch recently inaugurated its 76-acre, AIoT-enabled smart campus in Bengaluru.

BENGALURU, INDIA, 2 AUGUST, 2022 (GPN): – Bosch Limited, a leading supplier of technology and services, posted total revenue from operations of INR 3,544 crores in the first quarter of FY2022–23. This was an increase of 45.1 percent over the same quarter of the previous year. This all-time high is due to the low base last year and the easing of supply-chain bottlenecks, especially toward the end of the quarter, in conjunction with a positive production in the tractor segment.

Profit before tax stood at INR 438 crores that constitutes to 12.3 percent of total revenue from operations; that is a 30.5 percent increase over the same quarter of the previous year. Profit after tax stood at INR 334 crores, which is 9.4 percent of revenue from operations.

“The strong momentum exiting FY2021-22 was sustained and further improved over the past quarter due to recovery in the overall automotive market. This has bolstered our confidence that we will surpass the peaks of FY2018-19,” said Soumitra Bhattacharya, Managing Director of Bosch Limited and President of the Bosch Group in India. “With a steady order book and easing supply chain issues, we expect to maintain robust growth across revenue and free cash flows for the remainder of FY2022-23. Our focus is to maintain steady margins through strategic cost recovery across our supply chains,” he added.

Snapshot of performance in Quarter 1

The automotive market in Quarter 1 witnessed a strong year-on-year growth on a Covid-impacted low base. Owing to OEMs’ long waiting periods and strong order books, we have a sustained demand in segments like passenger cars and utility vehicle, along with further improvements in two-wheelers and tractors. This has resulted in an increase of 47.4 percent in the Powertrain Solutions division. The Automotive Aftermarket division also surpassed its peak with an increase of 61.3 percent due to a low base in Q1 FY 2021-22. The Beyond Mobility businesses recorded an increase of 53.6 percent, mainly due to growth in Consumer Goods division by 48.6 percent.

Bosch India inaugurated its AIoT-enabled smart campus

Building on the milestone of completing 100-years of the journey in India, the 76-acre smart campus was recently inaugurated in the virtual presence of Hon’ble Prime Minister Shri Narendra Modi and the physical presence of Hon’ble Chief Minister Sri. Basavaraj Bommai. “This smart, AIoT-enabled campus will house up to 10,000 associates. They will accompany us on our journey as we develop future-ready products and solutions for the automotive and non-automotive sectors. Looking back on our 100-year legacy in India, the Spark.NXT campus both complements Bosch India’s R&D capabilities and is evidence of our renewed commitment to build a sustainable and self-reliant India,” Mr. Bhattacharya said.-Ends.