Latest News | Bosch Q3 Net Profit Dips 12 Pc to Rs 458 Cr
Get latest articles and stories on Latest News at LatestLY. Auto components maker Bosch on Tuesday said its consolidated net profit declined by 12 per cent to Rs 458 crore for the third quarter ended December 31, 2024.
New Delhi, Jan 28 (PTI) Auto components maker Bosch on Tuesday said its consolidated net profit declined by 12 per cent to Rs 458 crore for the third quarter ended December 31, 2024.
The company had reported a net profit of Rs 518 crore in the October-December period of the last fiscal.
Its revenue from operations rose to Rs 4,466 crore for the third quarter compared to Rs 4,205 crore in the year-ago period, Bosch said in a regulatory filing.
"This quarter, Bosch generated growth through the development of advanced automotive components and customer-focused solutions. Increased service income from major OEMs testifies to their continued trust in us and our expertise," Bosch Ltd MD Guruprasad Mudlapur said.
The performance further reinstates the company's strategic ability to stay cognizant of market needs and deliver successfully, he added.
As part of the realignment of its Building Technologies division globally, the company said it will be carving out and transferring the Video, Access and Intrusion, and Communication systems business to Keenfinity India, a subsidiary of Bosch Security Systems BV Nederland.
The company's board, based on the recommendations of the audit committee, have approved the transfer of the business at a value of not less than Rs 595 crore, it added.
Shares of Bosch on Tuesday ended 0.13 per cent up at Rs 29,753 apiece on BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)