Bosch rises after Q1 FY22 PAT turnaround to Rs 260 cr

Bosch added 1.87% to Rs 15,518.85 after the company's consolidated net profit stood at Rs 259.76 crore in Q1 June 2021 (Q1 FY22) as compared to a net loss of Rs 120.83 crore in Q1 June 2020 (Q1 FY21).

Consolidated revenue from operations soared 146.43% to Rs 2,443.53 crore in Q1 FY22 from Rs 991.54 crore in Q1 FY21. The increase is due to lower base and recovery in sales as the lockdown restrictions eased across states in the country in June 2021. Pre-tax profit was at Rs 335.31 crore in Q1 FY22 as against a pre-tax loss of Rs 200.90 crore in Q1 FY21. The Q1 earnings was declared during trading hours today, 4 August 2021.

Soumitra Bhattacharya, the managing director (MD) of Bosch and President of the Bosch Group in India, stated that: "While the industry has shown continued signs of recovery since the second quarter of FY2020-21, the second wave of COVID-19 induced an undeniable pressure on the Indian automotive sector with a surge in infections, localized lockdowns, and lowered demand sentiment. The intensifying second wave proved a challenge for several OEMs across the country, causing them to cut production or suspend operations. Given the uncertain economic environment, the impending third wave of COVID-19 and unpredictability in the international supply chain, we would like to maintain a cautious business outlook for rest of FY2021-22."

Bosch is a supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.

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