New Delhi, Feb 13 (IANS) Auto components major Bosch Ltd on Tuesday reported a 62 per cent jump in net profit at Rs 518 crore for the October-November quarter of the current financial year compared to the corresponding figure of Rs 318.9 crore in the same quarter of the previous year.
The company said the net profit is 12.3 per cent of revenue from operations.
The Board of directors in their meeting held on February 13, declared a special payout in the form of an Interim Dividend of Rs 205 per equity share of Rs 10 each.
The total revenue from operations of the company worked out to Rs 4,205 crores in the third quarter, an increase of 14.9 per cent over the same quarter of last year. This growth is driven by surging demand in the overall automotive market, mainly in passenger cars and heavy commercial vehicle (HCV) segment.
Overall product sales of the automotive segment have increased by 16.8 per cent compared to the same quarter of the previous year, according to a Bosch statement.
“Increased demand for vehicles has resulted in robust growth for Bosch Limited this quarter. With a sustained focus on localization in the mobility space and beyond, we are optimistic of the future.” said Guruprasad Mudlapur, President of the Bosch Group, India, and Managing Director, Bosch Limited.