Mumbai, May 17: Bajaj Auto Ltd failed to meet Street expectations by posting a 45 per cent decline in net profit at Rs 772 crore in the three months ended March 31 compared with Rs 1,400.39 crore in the corresponding period of the last year.
Net profit in the year-ago period, however, included a one-time exceptional gain of Rs 827 crore on account of pre-payment of sales tax deferral liability.
The company's topline in the fourth quarter of 2011-12 also failed to meet analysts expectations. Total income for the three months stood at Rs 4,651.44 crore, an increase of 12.2 per cent compared with Rs 4,144.79 crore in the corresponding period of the last year.
A statement by the company said that operating earnings before interest tax depreciation and amortisation margins at 20.2 per cent were the best in the industry.
Sales in the quarter crossed 1 million units for the fourth quarter in a row.
On Thursday, shares of Bajaj Auto closed 2.61 per cent lower at Rs 1,574.35 on the Bombay Stock Exchange.
Mahindra Satyam
Mahindra Satyam today reported a net profit of Rs 534.21 crore for the fourth quarter ended March 31, 2012 against a net loss of Rs 327 crore in the same period of 2011.
Income from operations during the quarter stood at Rs 1,666 crore compared with Rs 1,375 crore for the same period last fiscal.
For the full year ended March 31, 2012, Mahindra Satyam has registered a net profit of Rs 1,306 crore against a loss of Rs 1,472 crore in 2010-11.
The company's total headcount as on March 31 stood at 33,353, making a net addition of 4,087 year-on year.
