Bajaj Auto Q4 net down 45 pc to Rs 772 cr

Bajaj Auto Q4 net down 45 pc to Rs 772 cr

The country's second largest two-wheeler maker Bajaj Auto today reported 44.87 per cent decline in its standalone net profit for the quarter ended March 31, 2012  at Rs 772 crore due to an "exceptional one time gain" in the year-ago period.

The company had posted a net profit of Rs 1,400.39 crore in the corresponding period of previous financial year, Bajaj Auto Ltd (BAL) said.

The standalone total income from operations, however, rose 12.22 per cent to Rs 4,651.44 crore for the fourth quarter compared to Rs 4,144.79 crore in the same period of 2010-11.

Commenting on its results, BAL Senior Vice-President (Business Development) S Ravikumar told PTI: "In the fourth quarter of last fiscal, we had an exceptional one time gain of about Rs 800 crore after we repaid a loan amount timely. Because of this, the net profit in Q4 and FY'12 is down."

For the entire 2011-12 financial year, the company posted a 11.85 per cent decrease in its consolidated net profit at Rs 3,045.40 crore as against Rs 3,454.89 crore during 2010-11.

The company's consolidated total income from operations in FY'12 went up by 19.27 per cent to Rs 19,594.65 crore compared to Rs 16,429.09 crore in the previous fiscal.
The board of director of the company recommended a dividend of Rs 45 per share, which is 450 per cent for the fiscal ended March 31, 2012.

During the last fiscal, BAL sold a total of 43,49,560 vehicles compared to 38,23,954 units in the previous fiscal, up 13.75 per cent.

Out of these, motorcycle sales stood at 38,34,405 units, while BAL sold 5,15,155 units of commercial vehicles.

Exports contributed with 15,79,824 units, which generated a revenue of over USD 1.36 billion (about Rs 7,400 crore).

"In 2012-13, we expect to cross 50 lakh units. We are confident that the new range of Pulsar and Discover bikes that will be launched from the new platforms will do well in the market," Ravikumar said.

He, however, said the company will continue to produce its existing Pulsar and Discover motorcycles.

Asked about the outlook for this fiscal, Ravikumar said: "Although the industry is very conservative, our new models will drive the growth for the company. We expect at least 15 per cent increase in our turnover in FY'13."

Shares of Bajaj Auto were trading at Rs 1,574.35 apiece on the BSE during late afternoon, down 2.61 per cent from its previous close.

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