Bengaluru (Karnataka) [India], May 20 (ANI): Bosch Ltd on Thursday posted a standalone net profit of Rs 482 crore in the quarter ended March (Q4 FY21), up nearly five times from Rs 81 crore in the year-ago period.
Revenue from operations stood at Rs 3,218 crore up 44 per cent from Rs 224 crore clocked in Q4 FY20. Profit before tax totalled Rs 640 crore, up over 77 per cent in the same period.
The company announced a dividend of Rs 115 per share for FY21.
Bosch said it is undergoing major transformation with regard to structural and cyclical changes in automotive market and emerging opportunities in electro mobility and mobility segment.
In the entire fiscal 2020-21, Bosch clocked revenue from operations of Rs 9,718 crore, thus registering a marginal year-on-year decline of 1.3 per cent. Profit before tax declined by 20 per cent to Rs 1,311 crore.
“Despite facing a spell of near-zero sales in the month of April and May last year, there has been a significant increase in the demand from agriculture sector, mainly the tractor business,” said Soumitra Bhattacharya, Managing Director of Bosch Ltd and President of Bosch India.
“The industry showed continued signs of recovery since the second quarter of FY21. However, it remains impacted due uncertainties in the market. International market volatilities in supply chain will also continue to impact the auto sector. Furthermore, we have seen growth in power tools segment, especially in the construction and e-commerce sectors,” he said.
During FY21, Bosch Ltd made a provision of Rs 744 crore towards various restructuring, reskilling and redeployment initiatives. These provisions have helped in transforming the company and making it future-ready.
The company said total investments in 2020-21 amounted to Rs 246 crore with major spend on the expansion of Adugodi campus into a smart campus. (ANI)
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