New Delhi : Bajaj Auto Ltd reported a marginal decline of 0.2 per cent in its standalone net profit for the fourth quarter ended March 31 at Rs 763.93 crore, amid a decline in sales volumes.
Bajaj Auto Ltd (BAL) had posted standalone net profit of Rs 765.77 crore during the same period previous year. The company’s net sales on standalone basis during the quarter under review stood at Rs 4,822.66 crore as against Rs 4,651.05 crore in the same quarter last fiscal, up 3.68 per cent, BAL said in a statement. Unit volume sales were, however, down by 4.63 per cent during the fourth quarter of 2013-14 to 9,35,782 units as against 9,81,242 units in year-ago period. Export revenue grew by 29.99% at Rs 2,076 crore. The Board of Directors recommended a 500 per cent dividend of Rs 50 per share entailing a total outgo of Rs 1,693 crore. For the financial year 2013-14, BAL’s consolidated net profit increased 7.9% to Rs 3,380.28 crore as against Rs 3,132.69 crore in the previous fiscal.
BAL’s consolidated net sales also increased 0.98 per cent to Rs 19,726.28 crore in the financial year 2013-14. However, total unit volume sales in FY 2014 declined 8.66 per cent to 38,70,077. The company said FY14 has been a difficult year for the automobile industry with an ‘environment of overall high inflation and slow economic growth’.