Bosch Ltd today reported net profit of Rs 703.74 crore for the second quarter ended September 30, 2016.
The company had posted a net profit of Rs 392.72 crore in the same quarter last fiscal, Bosch Ltd said in a BSE filing.
Total income from operations during the period under review stood at Rs 2,816.25 crore as against Rs 2,575 crore, up 9.37 percent, the filing said.
The profit for the quarter included a profit of Rs 280.83 crore from its discontinued operations of starter motors and generators business under its automotive vertical, which was transferred to sister concern Robert Bosch Starter Motors Generators India on a going concern basis by way of slump sale for Rs 357.8 crore.
Commenting on the performance, Bosch Ltd Managing Director and President Bosch Group in India Steffen Berns said: "Improved market sentiments, normal monsoon and the festive season have led to a strong quarter for the automotive market. For the quarter, Bosch Limited has registered a healthy growth in line with the market." He said the company continued to focus on operational efficiencies and productivity improvements.
"In addition, we have continued augmenting our engineering capacities and competencies to work on the BSVI projects. We feel well prepared for the future emission legislation with our products, experience and testing infrastructure facilities," Berns added.
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