Bajaj Auto reports 29.18% increase in net profit to Rs 803.06 crore for Q4

Bajaj Auto today reported 29.18 per cent increase in standalone net profit to Rs 803.06 crore for the fourth quarter ended March 31, riding on robust sales growth. The company had posted a standalone net profit of Rs 621.62 crore in the same period of the previous fiscal, Bajaj Auto said in a BSE filing.

Standalone net sales during the period under review stood at Rs 5,303.89 crore as against Rs 4,623.7 crore in the year-ago period, up 14.71 per cent. Total volume sales stood at 8,72,458 units as against 7,82,669 units in the corresponding period a year ago, a growth of 11.47 per cent, it said.

The board of directors has recommended a final dividend of Rs 5 per share at 50 per cent. The total amount of final dividend and tax thereon, including the amount paid as interim dividend, amounts to Rs 1,916 crore, the company said. For the fiscal 2015-16, Bajaj Auto said its consolidated net profit was at Rs 3,783.98 crore as against Rs 3,025.63 crore, up 25 per cent.

Consolidated net sales for the fiscal were at Rs 22,252.78 crore as compared with Rs 21,106.15 crore in the previous fiscal, up 5.43 per cent, it said. Total volume sales (standalone) were at 38,93,581 units during the year, as against 38,11,201 units in the previous year, up 2.16 per cent. Commenting on the performance, Bajaj Auto said it was yet another challenging business environment in the domestic market and volatile global economic conditions riddled with uncertainties.

Despite the challenges, the company said, it focussed on strategy to expand its share in domestic motorcycle market and reinforce its “leadership position in the domestic three-wheeler commercial vehicles” segment and expand its geographical presence in the international markets. Shares of Bajaj Auto were trading at Rs 2491.95 apiece in the afternoon trade, up 4.51 per cent from the previous close on BSE