Bosch Q1 net up 12% at Rs 344 crore

Company plans Rs 650 crore investment in 2015

Auto systems and technology maker Bosch Ltd today reported a 12% rise in first quarter profit at Rs 344 crore due to lower depreciation, higher treasury income and control on budgetary expenses.

Revenue for the April to June period grew 7.5% to Rs 2,532 crore.

Bosch had reported net profit of Rs 306.7 crore on a revenue of Rs 2,664 crore in the same period last year.

"Bosch registered healthy growth in the first quarter of the current financial year. The measures initiated in the last two years such as effective deployment of human resources and improving operational efficiency have continued to yield good results," said Steffen Berns, managing director of Bosch Limited.

"Our forecast for this financial year remains cautiously optimistic. We see a continued recovery in commercial vehicles and moderate growth in passenger cars. However, we do not expect big developments in the agricultural areas. We are positive about the mid-term prospects for our business in the Indian market and are well prepared for the upcoming emission legislations. We continue our investments in infrastructure, technology and our employees," he said in a statement.

"The planned investment of around Rs 650 crore in 2015 underlines our strong commitment to the country," Berns added.