Hit by falling two-wheeler sales, Bajaj Auto reported a 49.79 per cent decline in its consolidated net profit at Rs 69.14 crore for the fourth quarter.
Hit by falling two-wheeler sales, Bajaj Auto reported a 49.79 per cent decline in its consolidated net profit at Rs 69.14 crore for the fourth quarter ended March 31, 2009.
The Pune-based firm, which had a net profit of Rs 137.71 crore in the March quarter of FY'08, said its two-wheeler volumes were down by 22 per cent during the quarter.
Two-wheeler sales during the quarter stood at 375,439 units as against 482,912 units in the corresponding period last year.
The consolidated total income declined by 8.61 per cent to Rs 1,883.27 crore in the March quarter, from Rs 2,060.61 crore in the corresponding period last fiscal, the company said.
The board has declared a dividend of 220 per cent at the rate of Rs 22 a share for the financial year ended March 31, 2009.
For the fiscal ended March 31, Bajaj Auto posted a consolidated net profit of Rs 535.79 crore, down 28.52 per cent from Rs 749.58 crore in FY'08.
Total income dipped 2.51 per cent to Rs 8,814.81 crore during FY'09, from Rs 9,041.31 crore in the year-ago period.
Two-wheeler sales during the fiscal stood at 19,19,625 units as against 21,61,095 units in the previous fiscal, down 11 per cent.
During the year, two-wheeler exports were up 31 per cent to 6,33,463 units and three-wheeler exports were up two per cent to 1,39,056 units.
On a standalone basis, Bajaj Auto reported a 7.80 per cent growth rate in net profit at Rs 130.21 crore. It had a net profit of Rs 120.79 crore in FY'08.
Commenting on the outlook for the ongoing fiscal, Bajaj Auto managing director Rajiv Bajaj said the company planned to launch two new motorcycles in the value and executive segment, while two new three-wheelers, one each in passenger and cargo segment, are also slated to be introduced.
He, however, said flawless and timely execution of product plans and consequent production ramp up could be challenges, while sustainability of exports growth, despite showing signs of revival since April 2009, needed to establish consistency.
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