Auto technology giant Bosch’s Indian subsidiary Bosch Ltd has outperformed the automotive market in the of the current financial year 201-18 in mobility business.
The company’s mobility solutions businesses grew by 17.8 %, outperforming the automotive market that grew by 14 % (excluding two-wheeler) in this period.
The Gasoline Systems business remained as the key performing division as it registered a growth of 37.1% while the sales of the Diesel Systems’ division recorded a similar growth of 33.6% supported by higher demand and price for new generation products with the changes in emission norms with effect from April 2017.
Bosch’s Automotive Aftermarket division also registered 4% growth after recovering from GST transition. It was impacted by low availability of working capital with channel partners, and a reduction in the company’s Car Multimedia business.
Soumitra Bhattacharya, managing director, Bosch Limited said, “Bosch is offering the right technologies to shape the future while also taking care of the core businesses. We expect to remain on a path of growth in both areas in the current business year and are well prepared.”
Bhattacharya said the company is strongly committed to the electrification vision of the Indian government. Bosch will continue to develop technologies tailored to the requirements of the Indian market and enable the electrification of the powertrain.
The company registered revenue from operations of Rs 3,072 crore in the third quarter of the financial year 2017-18, recording a year-on-year increase of 14.1 %. The net profit from continuing operations stood at Rs 937 crore for the same period.