Bosch’s Profit Grows For The First Time In Five Quarters, Misses Estimates

Bosch Ltd.'s quarterly profit rose for the first time in five years on the back of a marginal increase in effective tax rate but below analyst estimates.

The auto component maker posted a net profit of Rs 281 crore for the December quarter, around 30 percent higher than the corresponding period a year ago, according to the company's stock exchange filing. That compares with the Rs 318 crore that analysts surveyed by Bloomberg projected.

Revenue rose 14 percent year-on-year in the three-month period to Rs 3,071.9 core. This matched the analysts' consensus estimate of Rs 2,978 crore.

The operating income rose 55.7 percent on a yearly basis in December quarter to Rs 447.6 crore, while the operating margin expanded 400 basis points to 14.6 percent.

Shares of the company rose nearly 2 percent to Rs 19,859 apiece after the announcement compared to 1.2 percent decline in the country's benchmark Sensex. The stock declined 1.9 percent during October-December period.

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