Bosch, the Indian subsidiary of the German automotive supplier Robert Bosch, announced an increase in its adjusted profit for the third quarter, driven by consistent sales of automotive components. For the three months ending December 31, the company’s profit before exceptional items and tax rose nearly 9% year-on-year to 6.65 billion rupees (approximately $77 million), while revenue increased by 6% to 44.66 billion rupees. Bosch manufactures a range of auto parts and accessories for vehicles, including cars, two-wheelers, and railways, with its automotive products division contributing about 87% of total revenue.
In the December quarter, India’s overall auto sales experienced a 3.1% growth, bolstered by demand during the festive season. Car sales climbed by 4.5%, and sales of motorcycles and scooters rose by 3% compared to the previous year. During this period, Bosch also set aside a one-time provision of 471 million rupees for restructuring its mobility business operations.
Analysts’ sentiment regarding Bosch’s stock remains cautious, with a mean rating of “Hold” and a target price ratio indicating the stock is trading above analysts’ mean price target.
