<p>India's Bajaj Auto Ltd reported a 2.5 per cent drop in fourth-quarter profit on Tuesday, as exports of its two- and three-wheelers took a hit due to the impact of high inflation in several of its overseas markets.</p>.<p>The company's profit fell to Rs 14.33 billion ($175 million) for the quarter ended March 31.</p>.<p>High costs of living squeezed demand in key markets for two- and three-wheelers in Latin America and Africa, hurting Indian companies' exports to the regions.</p>.<p>Exports of two-wheelers and commercial vehicles declined 41 per cent during the quarter for Bajaj, with the company calling it "sluggish".</p>.<p>"Exports progressively worsened given the deteriorating macros across overseas markets," Bajaj said in a statement.</p>.<p>Bajaj had said in January that its largest export market, Nigeria, would continue to be "depressed" and "volatile" until elections concluded at the end of February.</p>.<p>Domestic volumes, however, climbed 32 per cent during the reported quarter with its Pulsar portfolio of two-wheelers bolstering sales.</p>.<p>This helped total revenue from operations rise nearly 12 per cent to Rs 89.05 billion.</p>.<p>Separately, the company also said the board had recommended a final dividend of Rs 140 per share.</p>.<p>Bajaj is the first among Indian two-wheeler makers to report its quarterly results. Rivals TVS Motors Ltd and Hero MotoCorp Ltd will both report on May 4.</p>.<p>Bajaj shares closed marginally higher at Rs 4,342.55, taking its increase to 20 per cent so far this year.</p>
<p>India's Bajaj Auto Ltd reported a 2.5 per cent drop in fourth-quarter profit on Tuesday, as exports of its two- and three-wheelers took a hit due to the impact of high inflation in several of its overseas markets.</p>.<p>The company's profit fell to Rs 14.33 billion ($175 million) for the quarter ended March 31.</p>.<p>High costs of living squeezed demand in key markets for two- and three-wheelers in Latin America and Africa, hurting Indian companies' exports to the regions.</p>.<p>Exports of two-wheelers and commercial vehicles declined 41 per cent during the quarter for Bajaj, with the company calling it "sluggish".</p>.<p>"Exports progressively worsened given the deteriorating macros across overseas markets," Bajaj said in a statement.</p>.<p>Bajaj had said in January that its largest export market, Nigeria, would continue to be "depressed" and "volatile" until elections concluded at the end of February.</p>.<p>Domestic volumes, however, climbed 32 per cent during the reported quarter with its Pulsar portfolio of two-wheelers bolstering sales.</p>.<p>This helped total revenue from operations rise nearly 12 per cent to Rs 89.05 billion.</p>.<p>Separately, the company also said the board had recommended a final dividend of Rs 140 per share.</p>.<p>Bajaj is the first among Indian two-wheeler makers to report its quarterly results. Rivals TVS Motors Ltd and Hero MotoCorp Ltd will both report on May 4.</p>.<p>Bajaj shares closed marginally higher at Rs 4,342.55, taking its increase to 20 per cent so far this year.</p>