Country's third largest two-wheeler maker Bajaj Auto, led by Managing Director Rajiv Bajaj, today reported a decline in its standalone net profit for the quarter ended March 31 at Rs 765.77 crore. The company had posted a net profit of Rs 772 crore in the corresponding period last year, Bajaj Auto Ltd (BAL) said in a statement.
The standalone net income during the fourth quarter, however, went up by 2.04 per cent to Rs 4,746.48 crore from Rs 4,651.44 crore in the year-ago period, it added.
During the last quarter, the company's total vehicle sales stood at 9,81,242 units compared to 10,17,167 units in the same quarter last year, down 3.53 per cent.
For the entire 2012-13 financial year, the company witnessed its
consolidated net profit climbing by 2.87 per cent to Rs 3,132.69 crore from Rs 3,045.40 crore in the previous fiscal, BAL said.
The consolidated net income during FY'13 also rose by 2.28 per cent to Rs 20,041.99 crore from Rs 19,594.65 crore in FY'12, it added.
During the last fiscal, the company's total vehicle sales stood at 42,37,162 units as against 43,49,560 units in the previous fiscal, down 2.58 per cent.
Out of this, the company's exports dipped by 2.07 per cent to 15,47,157 units from 15,79,824 units in 2011-12.
In its meeting the Board of Directors recommend a dividend of Rs 45 per share, which is 450 per cent, resulting in a total outgo of Rs 1,523 crore on dividend and tax.
Commenting on the numbers, BAL said: "The company's strategy to build strong brands and offer differentiated products in the front-end, and focus on cost and productivity improvements at the back-end has yielded the desired results."
The company also said it has Rs 5,706 crore cash and cash equivalents as on March 31, 2013.
Shares of BAL today closed trading 0.77 per cent down at Rs 1,807.75 apiece on BSE.
Bajaj Auto sputters as Japanese bikes rule India's roads
(Reuters) Bajaj Auto Ltd, India's second-largest motorcycle maker, sounded downbeat on Thursday about domestic demand this year, as Japanese manufacturers race ahead in popularity in the world's second largest motorcycle market.
Japan's Honda Motor Co and Yamaha Motor Co Ltd have been riding on their sporty models and global brand recognition to win share from local companies in a market where two-wheelers account for the majority of passenger vehicles.
Honda's two-wheeler sales soared 30 percent in the fiscal