The Telegraph
Friday , May 16 , 2014
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Bajaj profit takes a hit

New Delhi, May 15: Bajaj Auto Ltd has reported a marginal fall in standalone net profit for the fourth quarter ended March at Rs 763.93 crore against Rs 765.77 crore a year ago, amid a decline in sales volume.

Domestic sales of the Pune-based motorcycle and commercial vehicle maker dropped, while exports surged 16 per cent to 1,50,714 units in April from 1,30,329 last year.

According to officials, the company is working on a new line-up to increase domestic sales, which is important to maintain its market share in the two-wheeler segment.

The Society of Indian Automobile Manufacturers in a recent report said the company’s share had gone down to 14.2 per cent in 2013-14 from 19.1 per cent in 2011-12.

The board of directors of the company has recommended a 500 per cent dividend of Rs 50 per share entailing a total outgo of Rs 1,693 crore.

The shares of Bajaj Auto today fell over 4 per cent to settle at Rs 1,953.20 on the BSE.