India’s third largest two-wheeler maker Bajaj Auto on Thursday reported marginal increase of 2.87 per cent in net profit for the quarter ended March 31, 2013 to Rs 3,132.69 crore from Rs 3,045.40 crore in the previous fiscal.
During the last quarter, 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.
Consolidated net income in fiscal 2013 also rose by 2.28 per cent to Rs 20,041.99 crore from Rs 19,594.65 crore in FY'12, the company said.
Total vehicle sales during the last fiscal touched 42,37,162 units as against 43,49,560 units in the previous fiscal, down 2.58 per cent. Of this, exports declined 2.07 per cent to 15,47,157 units from 15,79,824 units in 2011-12.
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.
Bajaj Auto had Rs 5,706 crore in cash and cash equivalents as on March 31, 2013. At its meeting, the board of directors of the company recommend a dividend of Rs 45 per share, or 450 per cent. Shares of BAL on Thursday closed 0.77 per cent down at Rs 1,807.75 apiece at close of trading on BSE.