Shares of Bosch jumped nearly 2 percent in early trade on August 1, post solid Q1 results. At 9:50 am, the Bosch stock was trading 1.01 percent higher at Rs 19,190 on NSE. The technology and services provider has recorded a 22.4 percent year-on-year growth in consolidated profit at Rs 408.9 crore for the quarter ended June FY24 despite weak operating margin, backed by higher other income and top-line.
Revenue from operations grew by 17.3 percent year-on-year to Rs 4,158.4 crore during the quarter mainly due to increased sales of exhaust gas temperature (EGT) components in passenger cars and in the commercial vehicle segment, the company reported in an exchange filing on July 31.
Source: Bosch Q1 profit jumps 22.4% YoY to Rs 408.9 crore; stock rises 2%