Bajaj Auto Q4 net down 19% at Rs 622 cr

Standalone net sales for the quarter under review stood at Rs 4,623.7 crore, down 4%

Hit by declining sales, Bajaj Auto today reported 18.62 per cent fall in standalone net profit at Rs 621.62 crore for the fourth quarter ended Mach 31.

The company had posted standalone net profit of Rs 763.93 crore in the same period previous fiscal, Bajaj Auto said in a filing to the BSE.

Standalone net sales for the quarter under review stood at Rs 4,623.7 crore as against Rs 4,822.66 crore in the same period previous fiscal, down 4.12 per cent, the company added.

Unit volume sales during the quarter stood at 7,82,669 units as against 9,35,782, down 16.36 per cent.

For the fiscal 2014-15, Bajaj Auto said its consolidated net profit was at Rs 3,025.63 crore as against Rs 3,380.28 crore in the previous fiscal, down 10.49 per cent.

Consolidated net sales during the fiscal were at Rs 21,106.15 crore as against Rs 19,726.28 crore in the previous year, up 6.99 per cent, it added.

Unit volume sales in FY15 stood at 22,01,543 units as against 20,73,568, up 6.17 per cent.

The company said its board has recommended a dividend of Rs 50 per share for the year, which will be subject to shareholders' approval. The total amount of dividend and tax thereon amounts to Rs 1,735 crore.

Bajaj Auto said in the fourth quarter it faced "sever headwinds in various international markets on account of devaluation of local currency and state of elections in Nigeria, availability of US dollar for imports and other macroeconomic uncertainties."

With normalcy returning across major geographical markets, growth in exports is back on track, it added.

During the year the company had exported 1.5 million motorcycles and 2,84,000 three-wheelers, it added.

Shares of Bajaj Auto were trading at Rs 2,227 apiece in the afternoon trade, up 3.56 per cent on the BSE.