Mobility biz driving growth; overall demand good: Bosch India

Bosch reported good set of Q3 numbers. The revenues were up 14 percent at Rs 3071.9 crore versus Rs 2692.7 crore for the same quarter last fiscal. The year on year (YoY) Net profit was up 30.8 percent at Rs 281 crore versus Rs 214.8 crore and EBITDA was up 55.7 percent at Rs 447.6 crore versus Rs 287.5 crore in Q3FY17.

Soumitra Bhattacharya, MD, Bosch & President Bosch Group-India said the mobility business which constitutes 80-85 percent of total business aided growth in the quarter gone by. The rest is non-mobility business.

Segregating the businesses, he said Diesel and gasoline showed strong growth. Diesel grew at 30 percent, while Aftermarket had strong single digit growth, however, the segment is seeing recovery, said Bhattacharya.

There was good demand for HCV, tractors and also the passenger vehicle sector.

Fundamentally, the demand for products have improved and in Q4 the trend is expected to continue, he said. It is important to see trends and peak than quarter on quarter growth. Tractors demand has crossed annualized volume of 7 lakh and in 2013 the peak was 6.9 lakh. Similarly, for HCV the peak was 3.7 lakh in 2011 and in 2018 that peak is about to be reached, he said.

Bosch is a leading supplier of technology and services in the areas of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.

Additionally, Bosch has in India the largest development center outside Germany, for end to end engineering and technology solutions