Shares of Bosch Ltd hit a 52-week high of Rs 32,229.50 on 27 May after the company announced its quarterly earnings for January-March. 

The company reported a 27% year-on-year increase in net profit to Rs 564.4 crore for the quarter under review from Rs 398.1 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations during the quarter stood at Rs 4,233.4 crore, marking a 4.2% YoY increase from Rs 4,063.4 crore reported in the same quarter last year. The total product revenue for its Mobility and Beyond Mobility business segment increased by 3% and 14%, respectively, aided by continued expansion in the consumer goods segment. 

For the entire financial year 2024, the company’s net profit surged by 75% to Rs 2,491.3 crore as compared to Rs 1,425.5 crore in FY2023. The revenue grew by 12% to Rs 16,727.1 crore for fiscal year 2024 from Rs 14,929.3 crore in FY23. 

The company’s Board of Directors has also recommended a final dividend of Rs 170 per share, which is subject to the shareholders’ approval. 

Guruprasad Mudlapur, president of the Bosch Group in India and managing director of Bosch Limited, said, “We concluded FY23-24 with a strong performance and considerable revenue growth, despite multiple headwinds that plagued the industry. The resilient uptick was fueled by increased demand for passenger cars and consumer goods product segments. We fostered growth in a number of business areas, across mobility and beyond.”

At 12:39 pm, the shares of Bosch were trading 1.30% higher at Rs 31,240 on NSE.