The second largest two- wheeler maker of the country, Bajaj Auto has announced its first quarter financial results for the fiscal year 2010-11. According to the report, it has registered a significant two fold net profit rise.

Bajaj Auto has posted a net profit of Rs 590.15 crore for the quarter that ended in 30th June, 2010 which is almost doubled of the net profit figure of the similar quarter in the last fiscal. The company has registered a net profit of Rs 293.49 crore in the same quarter in the previous year.

Bajaj Auto has informed this in a filing at the Bombay Stock Exchange. It has also reported that the board of the company has also recommended for issuing 1:1 bonus share for its shareholders.

The total income of the company has gone up by 66.35% and has touched Rs 3,890.06 crore during the April-June quarter of fiscal year 2010-11.

It was Rs 2,338.47 crore for the same quarter in the preceding year. The company has reported its best quarterly results for the forth consecutive time.