Bosch reports decline in standalone net profit

New Delhi:  Auto component maker Bosch Ltd today reported 10.22 per cent decline in standalone net profit at Rs 440.47 crore for the fourth quarter ended March, on account of higher tax expenses.

The company had posted a standalone net profit of Rs 490.6 crore in the same period of previous fiscal, Bosch Ltd said in a BSE filing. Total income from operations during the quarter under review stood at Rs 2,780.20 crore as against Rs 2,695.43 crore in the year-ago period, up 3.14 per cent.

The board of directors of the company have recommended a final dividend of Rs 90 per equity share for the fiscal 2016- 17. During the quarter, the company had an outgo of Rs 221.89 crore on tax expenses of continuing operations as compared to Rs 135.25 crore in the same quarter of previous year.

For the fiscal 2016-17, standalone net profit was at Rs 1,740.23 crore as against Rs 1,533.55 crore in the previous fiscal, a growth of 13.48 per cent. Total income from operations for the year was at Rs 11,242.66 crore as compared to Rs 10,441.9 crore in 2015-16, up 7.67 per cent. Shares of Bosch Ltd were trading 2.61 per cent up at Rs 23,390 on BSE.