Advertisement

HindustanTimes Sat,25 Oct 2014

Bajaj Auto profit dips a tad in Q4 on falling sales

HT Correspondent , Hindustan Times  New Delhi, May 16, 2014
First Published: 00:09 IST(16/5/2014) | Last Updated: 00:12 IST(16/5/2014)

Domestic two-wheeler major Bajaj Auto Ltd on Thursday reported a marginal decline of 0.2% in net profit for the fourth quarter ended March 31 to Rs764 crore against Rs766 crore a year ago on the back of a 4.6% decline in sales.

Advertisement

The company’s performance was well below expectations as the gains from export revenues was more than offset by the decline in the domestic market that has been crippled by a sluggish economy. 

Net sales during the quarter grew 3.4% to Rs4,823 crore over Rs4,651 crore a year ago. For the full year, the company’s net profit grew 6.5% to Rs3,243 crore in 2013-14 and sales rose 11.7% at Rs19,717.64 crore.  

The company said the financial year had been a difficult year for the automobile industry with an "environment of overall high inflation and slow growth."

The stock market was, however, unimpressed with the company’s financial performance with shares closing at Rs1,953, down 4.28% on the Bombay Stock Exchange.


Advertisement
more from Business

Fireworks back for FMCG companies this Diwali

With the overall consumer sentiment improving, companies are launching new products, and are finding buyers too. Premium products are selling particularly well, according to executives at several large consumer goods firms.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved