Bosch Group unit Motor Industries Company (Mico) boosted sales 28% year on year in fiscal 2005 to Rs29.7bn with growth in both automotive – increased demand from the commercial vehicle and tractor segments – as well as its non-automotive businesses.
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But profit after tax as percentage of net sales was down to 11.5% in 2005 compared with 16.1% in 2004.
This decline was mainly due to the increase in depreciation on account of the high investments towards the ongoing common rail project and an increase in material costs.
