New Delhi, May 16: Bajaj Auto, the country's third largest two-wheeler maker, has reported a marginal decline in its standalone net profit for the quarter ended March 31, at Rs 765.77 crore.
The company had posted a net profit of Rs 772 crore in the corresponding period last year.
A statement from the company said the standalone net income during the fourth quarter went up by 2.04 per cent to Rs 4,746.48 crore from Rs 4,651.44 crore in the year-ago period.
During the last quarter, Bajaj Auto's total vehicle sales stood at 9,81,242 units compared to 10,17,167 units in the same quarter last year, down 3.53 per cent.
In its meeting, the Board of Directors recommend a dividend of Rs 45 per share, which is 450 per cent, resulting in a total outgo of Rs 1,523 crore on dividend and tax.
Commenting on the numbers, Bajaj Auto said: "The company's strategy to build strong brands and offer differentiated products in the front-end, and focus on cost and productivity improvements at the back-end has yielded the desired results."
The company also said it has Rs 5,706 crore cash and cash equivalents as on March 31, 2013.
For the entire 2012-13 financial year, the company witnessed its consolidated net profit climbing by 2.87 per cent to Rs 3,132.69 crore from Rs 3,045.40 crore in the previous fiscal.
The consolidated net income during FY13 also rose by 2.28 per cent to Rs 20,041.99 crore from Rs 19,594.65 crore in FY'12, it added.
During the last fiscal, the company's total vehicle sales stood at 42,37,162 units, against 43,49,560 units in the previous fiscal, down 2.58 per cent.
Of this, the company's exports dipped by 2.07 per cent to 15,47,157 units from 15,79,824 units in 2011-12.
Shares of Bajaj Auto closed 0.77 per cent down at Rs 1,807.75 apiece on the Bombay Stock Exchange.
