Bosch Misses Estimates In Q1, Shares Fall

Bosch Misses Estimates In Q1, Shares Fall

Bosch shares fell over 3 per cent on Friday after the auto component manufacturer's earnings missed the Street's estimates for the April-June quarter. 

The Bengaluru-based company reported a net profit of Rs 379 crore on revenues of Rs 2,520 crore in Q1, compared to a net profit of Rs 376 crore on sales of Rs 2,301 crore in the corresponding quarter of the previous fiscal. 

Analysts polled by NDTV Profit had estimated its profit at Rs 400 crore on sales of Rs 2,902 crore. 

Profitability of Bosch also declined in the June quarter. Bosch's EBITDA margin or operating margin declined to 17.9 per cent against 21 per cent in the corresponding quarter of last year. Higher other expenses also impacted Bosch's profitability in Q1, analysts said. 

Bosch shares closed 0.94 per cent lower at Rs 24,548.3 apiece compared to 0.93 per cent gain in the broader Nifty.