Auto parts maker Bosch Ltd. on Thursday posted a sixfold jump in Q4 net profit to ₹482 crore from ₹81 crore in the year-earlier period.
Net profit for FY21 stood at ₹482.5 crore as against ₹649.8 crore in the previous year, a decline of 26%.
Total revenue from operations stood at ₹971.8 crore, a decline of 1.3% compared with the previous fiscal. In Q4, the company reported total a revenue of ₹321.8 crore, an increase of 43.8% compared with the year-earlier period.
The second wave of the pandemic pushed the Indian auto industry, which was on road to recovery until early this year, to market uncertainties again, Bosch said. In addition, international market volatilities in the supply chain would continue to impact the auto sector in the country, the company said.
“With 80% of our revenues driven through mobility business, we have been affected adversely,” said Soumitra Bhattacharya, MD, Bosch Ltd. and President, Bosch India. “The challenge will be to manage the fluctuating demand, supply chain crisis and changing consumer behaviour all at once,” he added.