BENGALURU: Auto component major Bosch Ltd's second quarter profit slipped 0.3% to Rs 305 crore due to higher corporate tax rate.

Net sales rose 5.7% to Rs 2,598 crores while operating profit rose 9.4% helped by drop in commodity prices, lower inflation and rein on expenses, Bosch said.

"Bosch registered overall moderate growth in the second quarter of the current financial year. Our business divisions in the mobility solutions sector as well as our divisions beyond mobility solutions developed equally well," managing director, Steffen Berns, said.

Bosch's mobility solutions rose 5.2% and the other divisions, which include power tools business, energy business and packaging technology, grew 9.7%.

"In spite of the weak overall automotive market with only 4.2% growth compared to 2014, our domestic sales of mobility solutions grew strongly at 9.2%," Berns added.

"We see a continued recovery in commercial vehicles on a low base and continued moderate growth in passenger cars. However, we expect the demand from the agricultural sector to remain muted. The overall sentiments also remain weak due to below normal monsoons for the second continuous year," according to Berns.