Bosch Q2 net profit up 32.99 per cent at Rs 278.93 crore

NEW DELHI: Auto component maker Bosch Ltd on Friday said its net profit rose by 32.99 per cent to Rs 278.93 crore for the second quarter ended June 30, 2011, over the same period previous fiscal.

The company had a net profit of Rs 209.73 crore in the same period previous financial year, Bosch said in a filing to the Bombay Stock Exchange (BSE).

The company's net sales rose to Rs 2,024.08 crore for the second quarter ended June 30, 2011, compared to Rs 1,656.08 crore in the same period previous fiscal.

Commenting on the company's results, Bosch Ltd Managing Director V K Viswanathan said: "The impact of sharp rise in commodity prices and inflationary pressure was compensated by aggressive cost control measures coupled with less than proportionate increase in depreciation charge and substantial increase in treasury income".

"Due to these external factors we foresee major challenges in sustaining the same growth momentum in the second half of this year," Viswanathan added.

For the six months ended June 30, 2011, the company posted a net profit of Rs 553.32 crore as against Rs 412.30 crore in the same period last fiscal.

Shares of Bosch today closed at Rs 6,945.10 on the BSE, down 1.45 per cent from their previous close.