The company posted a pre-tax loss of Rs 3.72 crore in Q1 June 2020 as against pre-tax profit of Rs 506.82 crore in Q1 June 2019. The result was announced during market hours today, 11 August 2020.
The company reported an additional provision of Rs 197 crores in Q1 June 2020 due to its investment in restructuring, reskilling and other transformational projects.
Commenting on company's performance, Soumitra Bhattacharya, MD, Bosch said, As anticipated, the financial year 2020-21 began on an extremely challenging note. The Indian economy is expected to witness sharp contraction, with GDP projected to be between minus 4% and minus 6% in the current fiscal year. Multiple lockdowns in several states are adversely affecting the supply chain. With the ripple effect of this continuing to be felt in the coming years, we now have to do all we can to counter the business situation while exhibiting utmost care for our associates. The focus for the upcoming quarters will remain on the agriculture sector, particularly on tractor demand. However, the auto sector as a whole will take four to five years to return to the levels of 2018-19.
Bosch is a supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology.
Powered by Capital Market - Live News
Beware of fraudulent tips, unauthenticated news and advice on stock market.
At BOB Capital, your account security is our topmost priority. Beware of receiving fraudulent communications, unauthenticated trading tips and unsolicited calls on trading in stocks from unverified sources, received through Whatsapp, Telegram, SMS, Calls, etc and take an informed decision before investing.
What should you do if you receive a trading tip over phone or SMS?
Report unsolicited messages to the Stock Exchange on +91 8291833676 or on designated email id i.e. feedbk_invg@nse.co.in. Please visit here to understand better.
Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits. Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns. Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices. At times, the holdings of customers are sold at prices detrimental to the customer.
The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
The following illicit activities by the persons named herein have come to the notice of Stock Exchanges: