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Eicher Motors profit misses consensus by 15.1% in fiscal Q1

Eicher Motors Ltd. said its normalized net income for the fiscal first quarter ended June 30, 2015, came to 75.16 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 88.57 rupees per share.

EPS climbed 13.7% year over year from 66.09 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.05 billion rupees, a gain of 13.7% from 1.80 billion rupees in the first quarter ended March 31, 2015.

The normalized profit margin increased to 18.7% from 7.0% in the year-earlier period.

Total revenue fell 57.3% on an annual basis to 10.96 billion rupees from 25.68 billion rupees, and total operating expenses decreased 63.5% on an annual basis to 8.33 billion rupees from 22.79 billion rupees.

Reported net income grew 21.5% year over year to 2.37 billion rupees, or 87.08 rupees per share, from 1.95 billion rupees, or 71.68 rupees per share.

As of July 28, US$1 was equivalent to 67.01 Indian rupees.