Bajaj Auto Q4 net profit down 45% at Rs 772 cr | autos | Hindustan Times
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Bajaj Auto Q4 net profit down 45% at Rs 772 cr

autos Updated: May 17, 2012 20:31 IST
HT Correspondent
HT Correspondent
Hindustan Times
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India second-largest two-wheeler major Bajaj Auto on Thursday reported a 45% year-on-year drop in net profit at Rs 772 crore in the January-March quarter and a 11% rise in turnover at Rs 4,790 crore during the period.

The company said that the Rs 1,400-crore profit a year ago was mainly on account of an exceptional gain of Rs 800-crore due to the prepayment of debt and therefore it was not comparable with the performance of the just-ended quarter.

For 2011-12, Bajaj Auto’s net profit declined 10% to Rs 3,004 crore while turnover rose 19% to Rs 20,136 crore, the highever ever for the company.

“Leaving aside the exceptional item of Rs 800 crore in the year-ago period, we posted a quarterly net profit growth of 12%,” said Ravi Kumar, senior vice-president, business development, Bajaj Auto.

Export continued to drive growth and accounted for 36% of the company’s production and 32% of its revenue. The company’s total sales during 2011-12 — including both motorcycles and three-wheelers — grew 14% to 4.35 million units. “This fiscal we will touch five million units,” said Kumar.

The company’s total motorcycle and three-wheeler sales crossed a million units in the January-March quarter (7% higher than the corresponding period of the last fiscal year).