Profits in the quarter ended March 2008 stood at Rs 120 crore. The company did not give year-ago figures as it split its businesses last year. Analysts estimated profit at between Rs 200 crore and Rs 250 crore.
"There was a drop in topline for the last quarter principally on account of low sales, PAT (profit after tax) reported in a similar way," said Kevin D'sa, V-P (finance), Bajaj Auto.
Two- and three-wheeler sales in the quarter reported a decline of 23 per cent at 3.94 lakh units as against 5.11 lakh units in the previous corresponding quarter. Income from operations stood at Rs 2,074 crore.
Vijay Sarthy, analyst, JM Financial, said, "There was no increase in sales during the quarter and the also the company refused to pass on the hike in raw material prices. There will be no leeway in the coming months as sales are expected to remain tight."
As for the full year ended March 2008, the company reported a net profit of Rs 755 crore while net sales stood at Rs 9,046 crore.
Bajaj Auto, the automotive company and Bajaj Finserve, the financing company, will be listed on May 26, according to a company statement.
