Bajaj Auto net slips 13.2 percentMay 21st, 2009 - 5:32 pm ICT by IANS
Mumbai, May 21 (IANS) The country’s second largest two-wheeler maker, Bajaj Auto, Thursday reported a 13.2-percent decline in net profit for 2008-09 while managing a 7.8 percent increase in fourth quarter profitability.
The company, with a product line-up that includes commercial three-wheeler vehicles, reported a profit of Rs.654.5 crore in 2008-09, down from Rs.755.7 crore earned the previous fiscal.
The turnover, after excise, took a beating of 2.6 percent with net sales slipping to Rs.9,436.9 crore from Rs.8,663.3 crore in 2007-08.
Unit sales during the year - which was particularly tough for the auto industry - fell by over 250,000 units to 2,194,154.
The only silver lining was the resurrection of the export business in developing markets that include South America. This accounted for a 31 percent surge in two-wheeler sales in these countries.
In a statement, managing director Rajiv Bajaj said lower raw material costs and better exports would drive growth in the current fiscal.
Bajaj Auto declared a dividend of Rs.22 per share.
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- Bajaj Auto sales up 34 percent in 2010-11 - Apr 04, 2011
- Bajaj Auto records highest ever vehicle sales in August - Sep 02, 2011
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- TVS Motor logs lower sales in March - Apr 02, 2012
- Bajaj Auto's first quarter net doubles, 1-for-1 bonus - Jul 22, 2010
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- 1:1 bonus issue by TVS Motor Company - Apr 29, 2011
Tags: auto industry, bajaj auto, crore, decline, dividend, excise, export business, managing director, net profit, net sales, profitability, rajiv bajaj, raw material costs, resurrection, rs 8, silver lining, south america, three wheeler, turnover, two wheeler