Automobile News

Bajaj Auto Q4 Profit Rises 29% To Rs 803 Crore

Bajaj Auto Q4 Profit Rises 29% To Rs 803 Crore

New Delhi: Bajaj Auto on Wednesday reported a 29.18 per cent increase in standalone net profit at Rs 803.06 crore for the fourth quarter that ended on March 31, riding on robust sales growth.

The company had posted a standalone net profit of Rs 621.62 crore for the corresponding period a year ago, it said in a filing to the BSE.

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 – an increase of 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 year 2015-16, Bajaj Auto said its consolidated net profit was at Rs 3,783.98 crore as against Rs 3,025.63 crore the previous year – an increase of 25 per cent.

Consolidated net sales for the fiscal year were at Rs 22,252.78 crore as compared with Rs 21,106.15 crore in the previous fiscal year, 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.

At 2:36 p.m., shares in Bajaj Auto were trading 4.55 per cent higher at Rs 2,493 apiece on the BSE, whose benchmark was up 2.10 per cent.