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Eicher Motors Q1 profit climbs 46.6% YOY

Eicher Motors Ltd. said its first-quarter normalized net income was 66.09 Indian rupees per share, a gain of 46.4% from 45.15 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.80 billion rupees, an increase of 46.6% from 1.23 billion rupees in the prior-year period.

The normalized profit margin climbed to 7.0% from 6.5% in the year-earlier period.

Total revenue increased 35.2% on an annual basis to 25.68 billion rupees from 19.00 billion rupees, and total operating expenses climbed 32.1% year over year to 22.79 billion rupees from 17.26 billion rupees.

Reported net income grew 40.4% from the prior-year period to 1.95 billion rupees, or 71.68 rupees per share, from 1.39 billion rupees, or 51.16 rupees per share.

As of May 8, US$1 was equivalent to 63.83 Indian rupees.