+
Bosch Ltd net profit increases 27% to Rs 234.79 cr in Q3 FY22
Company News

Bosch Ltd net profit increases 27% to Rs 234.79 cr in Q3 FY22

Bosch Limited witnessed a 27.5% increase in its consolidated net profit to Rs 234.79 crore during the third quarter (Q3) of FY22, which ended on 31 December 2021.

The company said that it reported a consolidated net profit of Rs 184.15 crore during the same period last year.

The company plans to invest Rs 2,000 crore in the next five years for localising its advanced automotive technologies and expanding its digital platforms, which include mobility marketplace and mobility cloud platform.

Its revenue from operations during Q3 stood at Rs 3,109.08 crore, compared to Rs 3,029.64 crore during the same period last year.

In Q3, the automotive products segment generated a revenue of Rs 2,740.61 crore, compared to Rs 2,671.35 crore during the same period last year. Its consumer goods revenue stood at Rs 221.27 crore, compared to Rs 242.85 crore, in Q3 last year.

The company's overall expenses in Q3 were higher at Rs 2,853.68 crore, compared to Rs 2,776.90 crore a year ago.

Managing Director and President of Bosch Group in India, Soumitra Bhattacharya, said the company had achieved several milestones aligned with the Make in India initiative in its 100-year journey in India.

He said that Bosch India would continue its journey towards building an Atmanirbhar Bharat through an investment of over Rs 1,000 crore in the next five years for localising advanced automotive technologies.

Another Rs 1,000 crore will be utilised to expand its digital platforms such as mobility marketplace, and mobility cloud platform. Moreover, Bosch has invested over Rs 8,000 crore in India till now.

The company said its board had approved the appointment of Guruprasad Mudlapur as the Director and Joint Managing Director of the company for the next three years with effect from 9 February, subject to the shareholders' approval.

The Board has also approved acquiring a 14% stake in Business-to-Business (B2B) startup Zeliot Connected Services Private Limited, which offers connected mobility solutions for vehicles like tracking, fleet management and telematics.

Image Source

Also read: LG Energy Solution plans to increase sales by 8% in 2022

Bosch Limited witnessed a 27.5% increase in its consolidated net profit to Rs 234.79 crore during the third quarter (Q3) of FY22, which ended on 31 December 2021. The company said that it reported a consolidated net profit of Rs 184.15 crore during the same period last year. The company plans to invest Rs 2,000 crore in the next five years for localising its advanced automotive technologies and expanding its digital platforms, which include mobility marketplace and mobility cloud platform. Its revenue from operations during Q3 stood at Rs 3,109.08 crore, compared to Rs 3,029.64 crore during the same period last year. In Q3, the automotive products segment generated a revenue of Rs 2,740.61 crore, compared to Rs 2,671.35 crore during the same period last year. Its consumer goods revenue stood at Rs 221.27 crore, compared to Rs 242.85 crore, in Q3 last year. The company's overall expenses in Q3 were higher at Rs 2,853.68 crore, compared to Rs 2,776.90 crore a year ago. Managing Director and President of Bosch Group in India, Soumitra Bhattacharya, said the company had achieved several milestones aligned with the Make in India initiative in its 100-year journey in India. He said that Bosch India would continue its journey towards building an Atmanirbhar Bharat through an investment of over Rs 1,000 crore in the next five years for localising advanced automotive technologies. Another Rs 1,000 crore will be utilised to expand its digital platforms such as mobility marketplace, and mobility cloud platform. Moreover, Bosch has invested over Rs 8,000 crore in India till now. The company said its board had approved the appointment of Guruprasad Mudlapur as the Director and Joint Managing Director of the company for the next three years with effect from 9 February, subject to the shareholders' approval. The Board has also approved acquiring a 14% stake in Business-to-Business (B2B) startup Zeliot Connected Services Private Limited, which offers connected mobility solutions for vehicles like tracking, fleet management and telematics. Image Source Also read: LG Energy Solution plans to increase sales by 8% in 2022

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?