The sharp decline in net profit is being attributed to an exceptional item of ₹297 crore Mumbai: Bosch Ltd has posted a decline of 18% in its consolidated revenue at ₹2,237 crore for the March quarter on lower auto sales during the period due to pandemic-induced lockdown.
The company’s consolidated net profit for the March quarter stood at ₹81 crore as against ₹412 crore from year-ago period, a decline of 80%.
The sharp decline is attributed to an exceptional item of ₹297 crore, which the company said is the provision made towards various restructuring and transformational projects, including asset impairment.
For the complete fiscal year, the leading auto component manufacturer has reported consolidated revenue of ₹9,841 crore as against