Bajaj Auto’s standalone Q4 net profit down 15%

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Mumbai, May 18 (IANS) Two- and three-wheeler manufacturer Bajaj Auto on Thursday reported a decline of 15.48 per cent in its standalone net profit for the fourth quarter (Q4) of 2016-17.

According to the company, its standalone net profit during the quarter under review declined to Rs 802 crore from Rs 949 crore in the corresponding period of 2015-16.

Bajaj Auto’s total income for the fourth quarter decreased by 7.72 per cent to Rs 5,506 crore from Rs 5,967 crore earned during Q4 of FY16.

The two- and three-wheeler manufacturer’s sales during the period under review dipped by 9.72 per cent to 787,627 units from 872,458 units off-take in the corresponding period of 2015-16.

On a full financial year 2016-17 basis, the company reported that its standalone net profit decreased by 2.59 per cent to Rs 3,828 crore from Rs 3,930 crore in 2015-16.

Bajaj Auto’s standalone total income during the fiscal under review edged lower by 2.59 per cent to Rs 24,310 crore from Rs 24,957 crore.

The company’s sales during last fiscal fell by 5.84 per cent to 3,665,950 units from 3,893,581 units off-take in 2015-16.

However, the company’s consolidated profit after tax marginally increased to Rs 4,079 crore as against Rs 4,061 crore in FY16.

The company’s Board of Directors has recommended a dividend of Rs 55 per share.

–IANS

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