The country's second largest two-wheeler maker Bajaj
Auto on Wednesday reported an over two-fold jump in its standalone net profit for the quarter ended March 31, 2011, to Rs 1,400.39 crore.
The company had posted a net profit of Rs 528.65 crore for the corresponding period last year, Bajaj Auto said in a filing to the Bombay Stock Exchange
The company's standalone total income during the fourth quarter also increased by 23.55 per cent to Rs 4,199.97 crore from Rs 3,399.45 crore in the year-ago period, it added.
During the January-March quarter, the company's vehicle sales rose by 17.21 per cent to 9,48,198 units from 8,08,973 units in the same period of 2009-10.
For the entire 2010-11 financial year, the company's standalone net profit soared by 96.44 per cent to Rs 3,339.73 crore from Rs 1,700.11 crore in the previous fiscal.
Standalone total income in the last fiscal went up by 39.33 per cent to Rs 16,608.93 crore from Rs 11,920.98 crore in 2009-10, the company said.
The automobile sales of the company stood at 38,23,954 units in FY'11 compared to 28,52,580 units in FY'10, up 34.05 per cent, it added.
The company's board has recommended a dividend of 400 per cent, which is Rs 40 per equity share, on the expanded share capital after issue of bonus share in the ratio of 1:1. This will result in a total outgo of Rs 1,345 crore.
Shares of the company were down 1.13 per cent at Rs 1,293.45 apiece during late afternoon on the BSE.