Bosch Limited, a leading supplier of technology and services, posted its total revenue from operations of Rs 4,130 crores (470 million euros) in Quarter 2 of FY 2023?24, an increase of 12.8% over the same quarter last year. The revenue from operations in Quarter 2 has increased compared to the previous quarter, due to growth in the automotive sector driven by strong demand in core segments such as heavy commercial vehicles and passenger cars.

The Profit Before Tax (excluding exceptional items) stood at Rs 532 crores (61 million euros) which is 12.9% of total revenue from operations, an increase of 9.2% over the same quarter of previous year. The Profit Before Tax (after exceptional items) stood at Rs 1,317 crores (150 million euros) which is 31.9% of total revenue from operations, an increase of 170.4% over the same quarter of previous year. Exceptional items pertain to the gain on sale of the company?s Mobility Solutions business in the current quarter. Bosch reorganized its Mobility Solutions business into a business sector with profit and loss responsibility earlier this year. The envisaged transaction is designed to steer the global platform and solutions business via a neutral e-commerce marketplace. This will ensure flexibility and ease of global operations. The Profit After Tax (PAT), including exceptional items, stood at Rs 999 crores (114 million euros) which is 24.2% of revenue from operations.

?In today?s rapidly changing market conditions, Bosch in India remains adaptable and thus well poised to maintain a robust growth and a healthy EBIT in the upcoming quarter as well? says Guruprasad Mudlapur, Managing Director, Bosch Limited and President, Bosch Group, India.

Snapshot of performance in Quarter 2

The Powertrain Solutions business, which constitutes more than 63% of the total net sales, showed a growth of 12.3% over same quarter of previous financial year, higher than the overall automotive market growth due to increase in content per vehicle mainly Exhaust Gas Treatment (EGT) components. This has resulted in an increase of 11.7% in the product sales of the automotive segment.

The two-wheeler business has experienced a higher growth of 18.6% compared to same quarter last year due to the easing of semiconductor supplies as compared to the same quarter of previous year.

The Beyond Mobility business recorded a 9.9% increase in net sales over the same quarter of the previous financial year, driven by continued growth in the consumer products segment.

?Over the next decade, the mobility sector in India will transform fundamentally. India is already the third largest auto market worldwide and we are optimistic about a promising future where we move towards electrification, cleaner fuel options, green hydrogen, and safer vehicles. Demonstrating our agility to embrace the change, Bosch is committed to take centerstage and emerge as the ultimate system solution provider for new-age technologies in the mobility space,? adds Mudlapur.