Bengaluru: German auto components maker, Bosch reported a 62.5% climb in third-quarter profit on Tuesday, buoyed by strong demand for its automotive parts.
The company’s net profit rose year-on-year to Rs 518 crore ($62.4 million) in the three months to Dec 31. Bosch makes auto parts such as braking systems and batteries, and also has a powertrain business that provides exhaust gas treatment components.The auto components and train businesses are clubbed under what the company calls “automotive products”, which accounts for more than 86% of total revenue. Demand for auto parts shot up as vehicle production jumped 21% year-on-year in the quarter. reuters
The company’s net profit rose year-on-year to Rs 518 crore ($62.4 million) in the three months to Dec 31. Bosch makes auto parts such as braking systems and batteries, and also has a powertrain business that provides exhaust gas treatment components.The auto components and train businesses are clubbed under what the company calls “automotive products”, which accounts for more than 86% of total revenue. Demand for auto parts shot up as vehicle production jumped 21% year-on-year in the quarter. reuters