Shares of Bosch Ltd. hit record high on Monday after its net profit rose in the fourth quarter of fiscal 2024. Net profit of the company rose 42% year-on-year to Rs 564 crore in the quarter ended March 31, according to an exchange filing. This compares to Rs 398 crore in the same period last year.
Bosch Q4 Results: Key Highlights (Consolidated, YoY)
Revenue up 4.2% to Rs 4,233 crore.
Ebitda up 6.7% to Rs 557 crore.
Margin at 13.2% versus 12.9%.
Net profit up 41.7% to Rs 564 crore.
The company has also approved the sale of its OE/OES diagnosis business from Mobility Aftermarket to ETAS Automotive India Pvt., a wholly owned subsidiary of Robert Bosch Investment Nederland B.V. and a fellow subsidiary of Bosch Ltd., for a cash consideration not less than Rs 45.6 crore, along with a purchase price adjustment applicable up to the closing date, according to an exchange filing.
Shares of the company rose as much as 4.5%, the highest level since listing, before paring gains to trade 1.90% higher at 11:02 a.m. This compares to a 0.20% advance in the NSE Nifty 50.
The stock has risen 41.72% year-to-date and 69.38% in the last 12 months. Total traded volume so far in the day stood at 1.06 times its 30-day average. The relative strength index was at 61.81.
Of the five analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold,' and three suggest 'sell', according to Bloomberg data. The average 12-month analysts' price target implies a downside of 20.2%.
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