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Eicher Motors fiscal Q2 profit climbs 31.5% YOY

Eicher Motors Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30, 2015, amounted to 90.88 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 102.40 rupees per share.

EPS rose 31.4% year over year from 69.16 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.48 billion rupees, a gain of 31.5% from 1.88 billion rupees in the prior-year period.

The normalized profit margin rose to 19.1% from 6.5% in the year-earlier period.

Total revenue declined 55.4% year over year to 13.00 billion rupees from 29.17 billion rupees, and total operating expenses fell 62.0% on an annual basis to 9.75 billion rupees from 25.64 billion rupees.

Reported net income grew 28.3% from the prior-year period to 2.85 billion rupees, or 104.36 rupees per share, from 2.22 billion rupees, or 81.42 rupees per share.

As of Oct. 28, US$1 was equivalent to 66.80 Indian rupees.