Bajaj Auto has posted a net profit of Rs 766 crore during the fourth quarter of 2013 compared with Rs 772 crore in the corresponding period last year, translating into a decline of one per cent year-on-year.
Boosted by eight per cent higher sales of motorcycles in the export market – overseas sales accounted for nearly 35 per cent of all bikes sold - net income from operations during the quarter under review stood at Rs 4,746 crore. This represents a rise of two per cent in comparison to net income of Rs 4,651 crore in the same quarter of the previous fiscal.
Domestic sales down
It may be noted that of 8.6 lakh motorcycles sold during the quarter, Bajaj Auto’s domestic sales stood at 5.56 lakh units, a decline of 10 per cent against 6.17 lakh units (a total of around nine lakh bikes) in the fourth quarter of last year. Total sales (two- and three- wheelers) were 9.81 lakh units against 10.17 lakh units, a decline of four per cent.
During FY13, Bajaj Auto has posted a net profit of Rs 3,044 crore, remaining virtually the same as Rs 3,004 crore in FY12. Income from operations stood at Rs 19,997 crore against Rs 19,529 crore, a growth of 2.4 per cent year-on-year.
In the last fiscal, Bajaj’s total sales at 4.24 million units against 4.35 million units in FY 12 showed a decline of three per cent. This includes 3.75 million units of motorcycles (3.83 million units), which showed a decline of two per cent.
The Board has recommended a dividend of Rs 45 per share on a share of Rs 10 face value. Cash and cash equivalents as on March 31, 2013, stood at Rs 5,706 crore.
On the BSE, Bajaj Auto’s share rallied to a high of Rs 1,884 gaining Rs 63 during intra-day trading then hitting a low of Rs 1,801, before closing at Rs 1807.75, losing Rs 14 (0.77 per cent) over the previous close.