Bosch Q2 net profit flat at Rs 372.4 cr

Auto component major Bosch on Tuesday reported a flat consolidated net profit of Rs 372.4 crore for the second quarter ended September 30. The company had posted a net profit of Rs 372 crore in the July-September quarter of the previous fiscal.

Its revenue from operations rose to Rs 3,662 crore for the period under review compared to Rs 2,918 crore in the same period last fiscal.

"The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year," Bosch Ltd Managing Director Soumitra Bhattacharya stated.

Although semiconductor supplies have eased out relatively, the supply chain ecosystem itself continues to remain fragile, he added.

"Despite these uncertainties, including rising input costs, we expect to build on the strong performance of this quarter," Bhattacharya noted