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Tata Motors fiscal Q2 profit climbs 13.4% YOY

Tata Motors Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 35.10 billion rupees, a rise of 13.4% from 30.96 billion rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 5.8% from 5.6% in the year-earlier period.

Total revenue grew 8.6% year over year to 601.64 billion rupees from 553.88 billion rupees, and total operating expenses grew 9.5% from the prior-year period to 538.11 billion rupees from 491.24 billion rupees.

Reported net income came to 32.91 billion rupees, compared with 35.42 billion rupees, or 11.03 rupees per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 61.73 Indian rupees.