Bosch declines after joint MD, CFO resigns

Bosch slipped 1.35% to Rs 18,309.05 after S. C. Srinivasan announced resignation from his current position as joint managing director & chief financial officer.

In exchange filing during market hours on Monday, Bosch announced that S. C. Srinivasan has decided to opt for early retirement for personal reasons with effect from 1 April 2022.

He subsequently announced his resignation from his current position as joint managing director & chief financial officer of Bosch with the close of business hours on 31 December 2021.

Bosch is a supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology. The company reported a consolidated net profit of Rs 372 crore in Q2 FY22 as against a consolidated net loss of Rs 63.96 crore posted in Q2 FY21. Net sales increased 17.7% to Rs 2,917.97 crore in Q2 FY22 over Q2 FY21.

 

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