Bajaj Auto Q4 net nearly halves to Rs772 crore
17 May 2012
Bajaj Auto has posted a net profit (after tax) of Rs772 crore for the fiscal fourth quarter ended 31 March 2012, against a net profit of Rs1400.39 crore during the year-ago quarter ended 31 March 2011.
The decline in net profit during the quarter was mainly because of the pre-payment of sales tax deferral liability/loan of Rs826.82 crore, which was available in Q4 of 2010-11 and not available in 2011-12, the company said in a filing with the Bombay Stock Exchange (BSE).
Total income of the company, however, increased to Rs4,790.93 crore during the quarter ended 31 March 2012, from Rs4,300.94 crore during the quarter ended 31 March 2011.
The company's income from operations during the last quarter of the financial year 2011-12 stood at Rs4,651.44 crore compared with Rs4,144.79 crore in the same period in 2010-11.
But total expenses of the company shot up to Rs3,774.31 crore from Rs3,371.52 crore in Q4 of 2010-11, audited results showed.
Though the profit before exceptional items at Rs1,014.85 crore was higher than Rs929.37 crore of the previous-year quarter, net profit was down to Rs772 crore, against Rs1,400.39 crore in the previous year quarter.