Bajaj Auto Q4 net dips 50% at Rs 69 cr

Bajaj Auto today reported a 49.79 per cent decline in its consolidated net profit at Rs 69.14 crore for the fourth quarter ended March 31, 2009.

The Pune-based firm had a net profit of Rs 137.71 crore in the March quarter of FY'08, Bajaj Auto said in a filing to the Bombay Stock Exchange.

The board has declared a dividend of 220 per cent at the rate of Rs 22 a share for the financial year ended March 31, 2009.

The consolidated total income declined 8.61 per cent to Rs 1,883.27 crore in the March quarter, from Rs 2,060.61 crore in the corresponding period last fiscal.

For the fiscal ended March 31, Bajaj Auto posted a consolidated net profit of Rs 535.79 crore, down 28.52 per cent from Rs 749.58 crore in FY'08.

Total income dipped 2.51 per cent to Rs 8,814.81 crore during FY'09, from Rs 9,041.31 crore in the year-ago period.

On a standalone basis, Bajaj Auto reported a 7.80 per cent growth rate in net profit at Rs 130.21 crore. It had a net profit of Rs 120.79 crore in FY'08.

The FY'09 net profit was significantly impacted owing to the forex cover taken by the company. During the year, two-wheeler exports were up 31 per cent to 6,33,463 units and three-wheeler exports were up two per cent to 1,39,056 units.

Shares of Bajaj Auto were trading at Rs 931.10, up 5.26 per cent in the afternoon trade on the BSE.