Bajaj Auto today reported a 1.3% increase in consolidated net profit at Rs 760.35 crore for the year ended March 31, 2005 as against Rs 750.76 crore in FY04.According to a release issued by the company to the BSE today, net sales increased to Rs 6,381.41 crore for the year ended March 31, 2005 as against Rs 5,287.08 crore in FY04."The consolidated financial results of the current quarter and year ended March 31, 2005 have been prepared consolidating the two insurance companies as subsidiaries in accordance with a limited revision to Accounting Standard 27 issued by the Institute of Chartered Accountants of India applicable from April 01, 2004 as against the last year where they were consolidated as a joint venture under Accounting Standard 27 - financial reporting of interests in joint ventures. Hence the figures for the current quarter and year are not comparable with those of the corresponding quarter and the previous year. However, income attributable to the consolidated group remains comparable," the release added.The board has recommended a dividend of 250% i.e Rs 25 per share, the release said.
