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Bosch posts 19.34 percent rise to Rs 335.37 crore Q3 profit

Bosch posts 19.34 percent rise to Rs 335.37 crore Q3 profit
Image Credit: Pixabay

Auto component maker Bosch Wednesday reported 19.34 per cent rise in standalone net profit at Rs 335.37 crore for the third quarter ended December 31, 2018. The company had posted a standalone net profit of Rs 281.01 crore in the year-ago quarter, Bosch said in a regulatory filing.

Total income during the period under review stood at Rs 3,274.12 crore as compared to Rs 3,174.18 crore in the same quarter last fiscal, it added. Expenses in the third quarter were higher at Rs 2,784.22 crore as compared to Rs 2,751.27 crore in the same period a year ago.

Bosch said the board of directors of the company, at its meeting held Wednesday, approved the appointment of Bhaskar Bhat as an independent director for the second term of five years with effect from April 1, 2019. Similarly, the board also approved the reappointment of Bernhard Steinruecke as an independent director for another term of five years with effect from April 1, 2019.

It also approved re-appointment of Andreas Wolf as Joint Managing Director of the company for a further period of three years with effect from March 1, 2019. All these appointments will be subject to shareholders' approval, the company added.

Shares of the company were trading 3.63 per cent lower at Rs 17,934.95 apiece against their previous close on BSE.

(With inputs from agencies.)

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