Bosch Q3 profit drops 11.6% to ₹458 cr, revenue rises 6.2%

Auto components maker Bosch announced its Q3 results today, recording an 11.6% drop in net profit, reaching ₹458 crore for the quarter ending December 31, 2024, down from ₹518 crore in the corresponding quarter of the previous year. The company’s profit before tax (PBT), including exceptional items, stood at ₹618 crore, while the PBT excluding exceptional items was ₹665 crore.

On the operations front, revenue increased 6.2%, reaching ₹4,466 crore in Q3 FY 2024-25, compared to ₹4,205 crore in the corresponding quarter of the previous year. This rise in revenue is attributed to higher service income from the development of automotive components for major OEMs (Original Equipment Manufacturers).

Bosch witnessed a 1.6% rise in overall product sales compared to the corresponding quarter of the last year. “The Power Solutions business, which constitutes 71% of the overall automotive product sales, has degrown by 1.8% over the same quarter of the previous financial year. This is mainly on account of degrowth in Heavy Commercial Vehicles (HCV) segment due to a slowdown in economic activity.”

Guruprasad Mudlapur, Bosch President in India and MD of Bosch Limited says, “This quarter, Bosch Limited continued to focus on innovation and technology by developing customer focused solutions. Mobility Aftermarket and Beyond Mobility divisions showed considerable growth in an otherwise tough quarter while ensuring overall double-digit profitability. This performance reaffirms our strategic ability to respond to the market needs.”

“The recently concluded Bharat Mobility Global Expo offered us an excellent platform to foster stakeholder collaboration and witness the exciting transformation the auto industry is going through. We showcased our diverse portfolio across hardware, software, and services that are aimed to push the boundaries for safe, sustainable, and exciting mobility. Moving forward, we aim to deepen our engagements in emerging technologies and remain optimistic about our growth in the next quarter,” adds Mudlapur.

The mobility aftermarket business recorded an 8.8% YoY growth compared to the same quarter last year, fuelled by rising market demand for diesel systems, automotive batteries and lubricants. “The Beyond Mobility business recorded a 1.5% increase in net sales over the same quarter of the previous financial year, driven by continued growth in the Power Tools segment.”

To streamline its global Building Technologies division, the auto components giant will transfer its Video, Access and Intrusion, and Communication systems business to Keenfinity India Private Limited, a subsidiary of Bosch Security Systems B.V. Nederland. Based on the Audit Committee’s recommendations, the Board of Directors has approved the transfer of the India business at a valuation of at least ₹595 crore.