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Bosch shares climb over 7 pc on impressive Q4 earnings

·1-min read

New Delhi, May 20 (PTI) Shares of auto component major Bosch on Thursday jumped over 7 per cent following the company's impressive fourth-quarter earnings.

The stock gained 7.05 per cent to close at Rs 15,838.15 on the BSE. During the day, it jumped 9.82 per cent to Rs 16,250.

On the NSE, it rose by 7.20 per cent to close at Rs 15,845.80.

Bosch on Thursday posted a six-fold increase in its consolidated net profit to Rs 482 crore for the fourth quarter ended on March 31, 2021, driven by robust sales.

The company had reported a net profit of Rs 81 crore during the January-March quarter of 2019-20.

Revenue from operations rose to Rs 3,218 crore during the fourth quarter from Rs 2,237 crore in the same period of the financial year 2019-20, Bosch Ltd said in a regulatory filing.

For 2020-21 fiscal, the company reported a consolidated net profit of Rs 481 crore as against Rs 650 crore in the 2019-20 financial year. Revenue from operations stood at Rs 9,716 crore as compared with Rs 9,842 crore in the financial year 2019-20.

'Despite facing a spell of near-zero sales in the month of April and May in 2020, there has been a significant increase in the demand from the agriculture sector, mainly the tractor business,' Bosch Managing Director Soumitra Bhattacharya said. PTI SUM SHW SHW

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