Bosch Q2 Results FY2023, PAT at Rs. 372.4 Crores

On 8th November 2022, Bosch announced its quarterly results for the second quarter of FY2023.
 

Q2FY23 Performance updates:

-  Total revenue from operations in Q2FY23 increased by 25.5 percent at Rs. 3661.6 crores
- Profit before tax stood at Rs. 487 crores (59 million euros) that constitutes to 13.3 percent of total revenue from operations that is a 22.5 percent increase over the same quarter of previous year
- Profit after tax stood at Rs. 372.4 crores, 10.2 percent of total revenue from operations

Business Highlights:

- The automotive market in Quarter 2 witnessed a strong Y-o-Y growth on a Covid impacted low base. 
-The Powertrain Solutions business which constitutes more than 60% of the total net sales showed a robust growth outperforming the overall automotive market growth. This has resulted in an increase of 31.1% in the product sales of the automotive segment. 
- With the easing of the chip shortage the sales in the Bosch Limited, 2-Wheeler segment also saw a growth of 21%. 
- The Beyond Mobility businesses recorded an increase of 7.5% in net sales mainly due to growth in the security solutions and a sustained growth in the consumer goods division, supported by the festive season demands.
- A new Common Rail Injector (CRIN) line for commercial vehicles was inaugurated, to cater to the Indian customers. Bosch Limited also launched the pilot Hydrogen Engine Testing infrastructure with temporary storage setup in Bangalore, which is the first of its kind facility in Bosch

Commenting on the results, Soumitra Bhattacharya, Managing Director, Bosch Limited and President of the Bosch Group in India, said: “The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year. Although supplies in semiconductors have eased out relatively, the supply chain ecosystem itself continues to remain fragile. Despite these uncertainties including rising input costs, we expect to build on the strong performance of this quarter.”