For FY14, Bajaj Auto reported higher net profit to Rs3,243 crore on 22% higher exports and lower raw material costs
Bajaj Auto Ltd, the world's third largest motorcycle maker, reported higher full year net profit on increased exports and lower raw material costs.
For the 12 month to end-March, Bajaj Auto said its stand alone net profit increased 7% to Rs3,243 crore from Rs3,044 crore while its total revenues, including sales, grew marginally to Rs20,856 crore from Rs20,793 crore, a year ago period.
During the full year, the Bajaj group company said, its revenues from exports jumped 22% to Rs8,199 crore from Rs6,713 crore, a year ago. The company exported 1.3 million motorcycles and 2.61 lakh 3-wheelers. Its exports contributed 42% in its net sales.
However, its domestic sales declined during FY14. Bajaj Auto sold 38.70 lakh motorcycles during the 12 months, which is 9% lower than 42.37 lakh units of motorcycles, a year ago period.
Bajaj Auto said during FY14 its total expenses decline 2% to Rs16,223 crore from Rs16,526 crore, while its raw material costs declined 4% to Rs12,936 crore from Rs13,524 crore a year ago period.
The world's largest 3-wheeler manufacturer, said it sold 4.48 lakh units of 3-wheelers during FY14. Bajaj Auto sold 6.49 lakh units of its iconic Pulsar brand in the domestic market and maintained leadership with 44% market share. It also launched new variants under its sports segments and sold 74,000 units of Pulsar 200 and Pulsar 200NS and exported 81,000 while it sold 11,000 units of its high-end-priced KTM duke in India and exported 24,000 during FY14.
In its quarter to end-March, Bajaj Auto said its stand alone net profit fell marginally to Rs764 crore from Rs766 crore, its total revenue including sales grew 3% to Rs5,177 crore from Rs4,990 crore a year ago period.
Bajaj Auto declared a final dividend of Rs50 per share.
At 3.05pm Monday, Bajaj Auto was trading 2.3% down at Rs1,890 on the BSE, while the S&P BSE Sensex was up 1.1% at 24,388.