Bajaj Auto Ltd. has reported 17% growth in consolidated net profit for the financial year ended March 31, 2019 to ₹4,928 crore against ₹4,219 crore in the year-earlier period.
Standalone net profit rose up 15% to ₹4,675 crore against ₹4,068 crore in the previous year. The company reported a 20% growth in turnover to ₹31,899 crore against ₹26,512 crore. Sales volume rose 25% to about 50.2 lakh units for FY19 against about 40.07 lakh the previous year.
Annual net rises 20%
For the fourth quarter ended March 31, 2019 the company reported 20% growth in consolidated net profit to ₹1,408.5 crore compared to ₹1,175.5 crore in the same quarter last year. Net profit rose 21% to ₹1,306 crore against ₹1,080 crore.
The company reported 10% growth in turnover at ₹7,828 crore as compared to ₹7,139 crore in the same period last year. Volumes were up 14% at 1,193,590 units. As on March 31, 2019 the company has surplus cash and cash equivalent of ₹16,368 crore compared with ₹15,542 crore in FY18.
The board of directors announced a dividend of ₹60 (600%) per share which, including taxes, will cost the company ₹2,093 crore. The firm also announced that Soumen Ray, currently joint president (finance), will take over as president (finance) and CFO of the company effective May 18, 2019.
