Bajaj Auto Q4 net up 29% to Rs 803.06 crore

Net profit for the full fiscal 2016 was Rs 3,783.98 crore, up 25% from FY15; company announces final dividend of Rs 5 a share at 50% face value

Bajaj Auto on Wednesday reported 29.18% increase in standalone net profit to Rs 803.06 crore for the fourth quarter ended March 31, riding on robust sales growth. 

For fiscal 2015-16, Bajaj Auto said its consolidated net profit was at Rs 3,783.98 crore as against Rs 3,025.63 crore, up 25%.

Standalone net sales for the March quarter were Rs 5,303.89 crore as against Rs 4,623.7 crore in the year-ago period, up 14.71%. Total volume sales stood at 8,72,458 units as against 7,82,669 units in the corresponding period a year ago, a growth of 11.47%, it said.

The company has recommended a final dividend of Rs 5 per share at 50% of the face value. The total amount of final dividend and tax thereon, including the amount paid as interim dividend, amounts to Rs 1,916 crore, it said.

Consolidated net sales for the full financial year were Rs 22,252.78 crore, compared to Rs 21,106.15 crore in the previous fiscal, up 5.43%.

Total volume sales (standalone) were at 38,93,581 units during the year, as against 38,11,201 units in the previous year, up 2.16 per cent.

Commenting on the performance, Bajaj Auto said it was yet another challenging business environment in the domestic market and volatile global economic conditions riddled with uncertainties.

Despite the challenges, the company said, it focussed on strategy to expand its share in domestic motorcycle market and reinforce its "leadership position in the domestic three-wheeler commercial vehicles" segment and expand its geographical presence in the international markets.

Shares of Bajaj Auto were trading at Rs 2491.95 apiece in the afternoon trade, up 4.51% from the previous close on BSE.