Bosch's Strategic Maneuvers Amid Profit Decline

Bosch reported a 12% decline in net profit for Q3 2024, amounting to Rs 458 crore, despite revenue growth. The firm is expanding into advanced automotive components and transferring part of its Building Technologies division to Keenfinity India. Bosch's strategic market awareness is evident.

Auto components giant Bosch has reported a consolidated net profit decline of 12% for the third quarter ending December 31, 2024, totaling Rs 458 crore. This is a drop from the Rs 518 crore recorded during the same period last fiscal year.

Despite the profit dip, Bosch experienced a revenue increase from operations, rising to Rs 4,466 crore in this quarter compared to the year-ago period's Rs 4,205 crore, according to their regulatory filing.

Managing Director Guruprasad Mudlapur highlighted that Bosch's growth was driven by advanced automotive components and solutions tailored to customers. The strategic transfer of the Video, Access and Intrusion, and Communication systems business to Keenfinity India, valued at minimum Rs 595 crore, marks a global realignment of Bosch's Building Technologies division.

(With inputs from agencies.)