Auto sector slowdown drags Bosch Q3 profit, revenue; PBT declines 27%

The downturn in the automotive industry continued to adversely impact auto components major Bosch’s performance as the firm posted a decline both in its net profit and revenues in the third quarter ended December 2019 (Q3FY20).

The Bengaluru-headquartered firm posted 27.5 per cent decline year-on-year (YoY) basis in its profit before tax (PBT) at Rs 347.5 crore for Q3. Net profit declined 43 per cent at Rs 190.33 crore, during this period.

As the automotive industry goes through major disruption, Bosch also witnessed 15.7 per cent fall in its revenues from operations at Rs 2,537 crore, compared to Rs 3,007.8