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Last year, during the fourth quarter the auto maker had an exceptional onetime gain of about Rs800 crore accrued due to repayment of a loan amount timely
New Delhi: Bajaj Auto, the country's second largest two-wheeler maker, on Thursday reported 44.9% fall in its standalone net profit for the quarter ended March 2012 at Rs772 crore due to an "exceptional one time gain" in the year-ago period, reports PTI.
The company had posted a net profit of Rs1,400.39 crore in the corresponding period of previous financial year, Bajaj Auto Ltd (BAL) said in a regulatory filing.
Its standalone total revenues from operations, however, rose 12.2% to Rs4,651.44 crore for the fourth quarter compared to Rs4,144.79 crore in the same period a year ago.
Commenting on its results, BAL Senior Vice-President (Business Development) S Ravikumar told PTI: "In the fourth quarter of last fiscal, we had an exceptional one time gain of about Rs800 crore after we repaid a loan amount timely. Because of this, the net profit in Q4 and FY'12 is down."
For the entire 2011-12 financial year, the company posted a 11.9% decrease in its consolidated net profit at Rs3,045.40 crore as against Rs3,454.89 crore during 2010-11.
The company's consolidated total revenues from operations in FY12 went up by 19.3% to Rs19,594.65 crore compared to Rs16,429.09 crore in the previous fiscal.
The board of director of the company recommended a dividend of Rs45 per share or 450% for FY12.
During the last fiscal, BAL sold a total of 43.5 lakh vehicles compared to 38.2 lakh units in the previous fiscal, up 13.8%. Out of these, motorcycle sales stood at 38.3 lakh units, while BAL sold 5.2 lakh units of commercial vehicles.