Bosch rose 2.98% to Rs 8,560 at 9:58 IST on BSE after net profit rose 1.7% to Rs 251.68 crore on 5.2% increase in net sales to Rs 2269.19 crore in Q1 June 2013 over Q1 June 2012.
The result was announced after market hours on Tuesday, 6 August 2013.
Meanwhile, the S&P BSE Sensex was down 136 points, or 0.73%, to 18,597.04.
On BSE, 175 shares were traded in the counter as against an average daily volume of 765 shares in the past one quarter.
The stock hit a high of Rs 8,567.50 and a low of Rs 8,465.45 so far during the day. The stock had hit a 52-week high of Rs 9,590 on 31 December 2012. The stock had hit a 52-week low of Rs 8,182.05 on 8 March 2013.
The stock had underperformed the market over the past one month till 6 August 2013, sliding 5.22% compared with the Sensex's 3.91% fall. The scrip had also underperformed the market in past one quarter, sliding 7.48% as against Sensex's 4.78% fall.
The large-cap company has an equity capital of Rs 31.40 crore. Face value per share is Rs 10.
Bosch's profit before tax (PBT) increased by 7.1% to Rs 366 crore in Q1 June 2013 over Q1 June 2012. Exports increased by 14% during the period under review.
"In the second quarter of this year, we managed to achieve greater than 5% growth despite the overall weak market conditions. The automotive market benefitted from the increase in tractor and 3-wheeler segments, but overall remained weak due to a decline in passenger cars and heavy commercial vehicles," said Dr. Steffen Berns, Managing Director, Bosch Limited, announcing the company's quarterly results.
The company said that the focus on expanding and developing the non-automotive product portfolio resulted in positive yields. All divisions across the non-automotive segment registered a double-digit growth. "The positive momentum in Bosch India was mainly driven by the strong growth of our non-automotive business. Exports have seen a positive trend in this quarter. Overall, we anticipate moderate growth for the next two quarters compared to the weak last half of 2012," Dr. Berns added. Registering an overall growth of 0.8% at Rs 4,460 crore on net sales and income from operations in the first half of 2013, the company said it is confident of its growth in the region from a mid and long-term perspective.
Commenting further Dr. Berns added, "Facing the difficult market environment, we are continuously taking steps to improve our operational efficiency. The rupee depreciation to the USD has put additional burden on our bottom line. However, we will continue to invest for a sustained long-term growth. The overall business environment will remain challenging during 2013."
The Bosch Group is a leading global supplier of technology and services. Since the beginning of 2013, its operations have been divided into four business sectors: automotive technology, industrial technology, consumer goods and energy & building technology.
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