Bosch Stock Extends Decline After Sluggish First Quarter Performance

Shares of Bosch Ltd. slid further into the red after the June quarter profit rose just 0.8 percent, and margins contracted.

Net profit stood at Rs 378.7 crore in the April to June quarter, from Rs 376 crore in the same quarter last year, according to the company’s filing on the Bombay Stock Exchange.

Net sales improved 8 percent to Rs 2,476 crore from Rs 2,280 crore in the corresponding quarter last year. Other income stood at Rs 178.9 crore, the company added.

Earnings before interest, tax, depreciation and amortisation fell 6.5 percent to Rs 451 crore, while EBITDA margin decreased to 17.9 percent from 20 percent earlier.

The Bosch stock, which was trading 2 percent lower around 11 am, extended its losses to 2.4 percent on the Bombay Stock Exchange, after the announcement of the earnings.