CHENNAI: Bajaj Auto has reported higher turnover and profits for the 12 months ended March 31, 2006. The turnover, net of excise, has risen to Rs. 8,106.40 crore from Rs. 6,322.80 crore. The net before VRS, depreciation and taxation, has increased to Rs. 1,794 crore from Rs. 1,321 crore. Compensation paid under VRS was Rs. 22.60 crore (Rs. 49 crore), depreciation Rs. 191 crore (Rs. 185.40 crore). The profit before taxation has increased to Rs.1,580.70 crore from Rs. 1,086.40 crore.

After providing Rs. 479.10 crore (Rs. 319.60 crore) for taxation, the profit after tax stood higher at Rs. 1,101.60 crore against Rs. 766.80 crore. After taking into account tax credit of Rs.21.70 crore (against a debit of Rs. 1.80 crore), the net profit for the year is higher by 47 per cent at Rs. 1,123.30 crore against Rs. 765 crore in 2004-05. The directors have recommended a dividend of Rs. 40 per share. The dividend paid in the previous year was 25 per share.

Total two wheeler sales were higher at 20.29 lakh units against 16.03 lakh units, a growth of 27 per cent. Sales of three-wheeler were higher at 2.52 lakh numbers against 2.22 lakh numbers. Of the total sales of 22.81 lakh vehicles (18.25 lakh vehicles), exports accounted for 27 per cent at 2.50 lakh vehicles. Sales of motorcycles have registered a growth of 32 per cent.

New export markets

PTI reports from Mumbai:

The company posted a 69.55 per cent rise in net profit after deferred tax adjustment at Rs. 346.97 crore for the fourth quarter, as compared to Rs. 204.63 crore in the year-ago period. The total income (net of excise) increased by 28.83 per cent to Rs. 2,269 crore from Rs. 1,761 crore, Bajaj Auto Executive Director Sanjiv Bajaj told reporters here.

"The company has laid out a capital expenditure plan of Rs. 1,500 crore for the next three years, including setting up of two plants in Uttaranchal and Pune,'' Mr. Bajaj said. The Pune plant would manufacture the company's first four-wheeler, which was expected to hit the market in two years, he said.

On new export markets, Mr. Bajaj said, "in Nigeria, we test marketed motorcycles in September and now we are in the process of appointing distributors. The sales should start in early July.'' However, in Indonesia, the company would initially launch three wheelers by the end of June and had recently closed a deal with a manufacturer for two-wheelers, he said.

"We will also re-enter Iran which will help us reach the Middle East markets. The motorcycle sales are likely to commence from July,'' he said.

On new products, Mr. Bajaj said the company planned to launch Crystal, its scooterette for girls, in three to four months and also an improved version of the popular model Pulsar.

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