Bosch Ltd posts 7.2% sales growth in Q3 of FY17
- Author: Zachary Reyes Feb 11, 2017,
Feb 11, 2017, 22:04
Idea and RComm on Saturday found themselves among the telecom players adversely impacted by the entry of Mukesh Ambani-led RJio. However, the company's total income rose to Rs21,531.2 crore in the quarter from Rs20,928.4 crore in the year-ago period.
The company had posted a net loss of Rs 293.6 crore in the corresponding quarter of previous fiscal, Reliance Defence and Engineering said in a filing to BSE.
Automotive components and technology supplier Bosch has posted 23.5 percent year-on-year decline in Profit After Tax (PAT) for third quarter of fiscal 2017 and stood at Rs 215 crore. Net loss was also because Coal India subsidiaries are yet to pay dividend to the company. Fresh slippages were Rs. 3,027 crore compared to Rs. 15,603 crore year ago in the year-earlier period.
Reliance Jio launched its full-fledged free 4G service on September 5.
The company was expected to report a net profit of Rs 344 crore on sales of Rs 2,840 crore, according to Bloomberg consensus estimates. "Also, there was an increase in amortisation and interest expense aggregating Rs. 278 crore on account of capitalisation of 850 MHz spectrum liberalisation fee".
It further said it would invest Rs 7,765 crore as capital expenditure and Rs 5,069 crore in various other projects in 2016-17.
RCom reported a decline of 0.6 per cent average revenue per user to Rs 154 and drop of 10 per cent in data traffic on its network as against the previous quarter.