The automotive market in the September ended quarter witnessed a strong year-on-year growth on a pandemic impacted low base, said Bosch, a supplier of technology and services in mobility solutions, industrial technology, consumer goods and energy.
Consequently, Bosch posted a profit before tax at ₹487 crore in Q2, a 22.5% increase from the year earlier. Total revenue from operations was ₹3,662 crore, a y-o-y growth of 25.5%.
The surge in demand on the back of the continued recovery of the automotive market had contributed to a strong performance in the second quarter, said Soumitra Bhattacharya, MD, Bosch Ltd. and president of the Bosch Group in India.
“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,” he added.
“Despite these uncertainties including rising input costs, we expect to build on the strong performance of this quarter,” he said.
According to Bosch, the Powertrain Solutions business, which constitutes over 60% of the company’s total net sales, showed a robust growth, outperforming the overall automotive market growth. This resulted in an increase of 31.1% in the product sales of the automotive segment.
With the easing of chip shortage, sales in the two-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, the company said.
