Bajaj Auto, India's second biggest motorcycle maker, reported on Wednesday higher-than-expected earnings in its fourth quarter, boosted by other income.
It said its net profit in January-March was Rs 1.51 billion ($32 million), up 1.5 per cent from a year earlier. Other income rose 44 per cent to Rs 412.5 million.
A Reuters survey released last month forecast its fourth-quarter net profit would fall 7.7 per cent to Rs 1.37 billion.
Bajaj said net sales in the past quarter rose nearly 10 per cent to Rs 12.36 billion.
It set a dividend of Rs 14 per share for the past year to March.