Two-wheeler major Bajaj Auto today said its net profit declined 44.85% at Rs 772 crore for the fourth quarter ended March 31, 2012.
The company had posted net profit of Rs 1,400 crore in Q4, 2010-11, Bajaj Auto said in a statement.
Net sales of the company, however rose to Rs 4,515 crore for the fourth quarter, as compared to Rs 4,030 crore in the same period of previous fiscal.
For the year ended March 31, 2012, the company posted a net profit of Rs 3,004 crore, as against Rs 3,340 crore during 2010-11.
The company's net sales in 2011-12 rose to Rs 18,880 crore, as against Rs 15,897 in the previous fiscal.
The company's board, which met today, recommended a dividend of Rs 45 per share (450%) for 2011-12.
Shares of Bajaj Auto were trading at Rs 1,590.55 on the BSE in afternoon trade, down 1.61% from its previous close.
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