Bosch Q1 profit rose 22.4% YoY to Rs 408.9 crores
Following strong Q1 earnings, Bosch shares increased by 2% in early trading on 1st August. The Bosch stock was up 1.01% to Rs 19,190 on the NSE. Despite having a low operating margin, the technology and services company managed to increase its consolidated profit by 22.4% YoY to Rs 408.9 crore for the quarter that ended in June of FY24. This rise was supported by higher other income and top-line.
The company reported in an exchange filing on July 31 that increasing sales of exhaust gas temperature (EGT) components in passenger vehicles and the commercial vehicle segment contributed significantly to the growth in revenue from operations, which jumped by 17.3% YoY to Rs 4,158.4 crore during the quarter.
Operating-level EBITDA grew by 4.1% to Rs. 467.9 crore in the first quarter of the current fiscal year compared to Rs. 449.4 crore in the same quarter last year. In the reporting quarter, the EBITDA margin was 11.3%, down from 12.7 percent in the corresponding period of the prior fiscal year.
Earnings before interest, tax, depreciation, and amortization are known as EBITDA. The Profit before Tax (PBT) for the quarter was Rs 533 crore, or 12.8% of the total revenue from operations, up 21.7% from the same period the year before.
Source: Media Reports