In an interview to CNBC-TV18, Soumitra Bhattacharya, MD of Bosch spoke about the results and his outlook for the company.
Automotive industry went through a big change in the previous quarter due to transitioning from BS-III to BS-IV, he said.
"Bosch is a big provider to the automotive industry and the original equipment manufacturers (OEMs); we had to get into the path fast, we had a higher trading mix and we also did a lot of air freight," he added.
He further added that one-off events hit the quarterly results.
We believe that growth will come back. We expect and hope that we continue to have a good monsoon and if Diwali picks up, we should look for a decent growth, said Bhattacharya.
"I am cautiously optimistic in the automotive area, subject to good monsoon, we should see decent growth," he said.Watch accompanying video for more details.