Automobile and mobility systems supplier Bosch reported a 23.2 per cent increase in net profit at Rs 1,245 crore for the financial year 2016, and 9.5 per cent increase in revenue at Rs 10 crore, on rising demand for its products.
“All business sectors of Bosch developed positively in the past 12 months,” said Steffen Berns, managing director. This year, Bosch plans to invest Rs 770 crore in its plants at Bidadi and Nashik for common rail pumps and injectors, and in Bengaluru for its research and development technology centre. Bosch expects the market performance of the coming quarters to be e determined by factors such as monsoon, fuel prices, interest rates and speed of execution of government reforms. “We expect moderate growth in the automotive industry and remain cautiously optimistic about the Indian market this year,” Berns said.