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Last Updated : Aug 14, 2019 09:42 AM IST | Source: Moneycontrol.com

Bosch hits 52-week low on poor Q1 results; Credit Suisse maintains outperform

Revenue of the company declined 13.5 percent at Rs 2,779 crore against Rs 3,212 crore.

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Shares of Bosch touched its 52-week low, falling over 3 percent in early trade on August 14 after the company reported dismal numbers quarter ended June 2019.

Bosch reported a 35 percent fall in its Q1 FY20 net profit at Rs 280 crore which include one-time loss of Rs 82.1 crore.

The company had posted a profit of Rs 431 crore in the corresponding quarter of the last fiscal.

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Revenue of Bosch declined 13.5 percent at Rs 2,779 crore against Rs 3,212 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) was down 23 percent at Rs 483 crore and the margin was down 220 bps at 17.4 percent.

Credit Suisse has maintained outperform call on the stock and cut target to Rs 17,500 per share.

The firm cut FY20/21 EPS estimates by 15/17 percent and said it is a preferred pick to play changing regulatory and tech landscape.

At 0926 hrs, Bosch was quoting at Rs 13,329.45, down Rs 187.80, or 1.39 percent on the BSE.

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First Published on Aug 14, 2019 09:42 am
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