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Bajaj Auto fiscal Q1 profit climbs 7.7% YOY

Bajaj Auto Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30.80 Indian rupees per share, a gain of 7.6% from 28.62 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 8.92 billion rupees, a gain of 7.7% from 8.28 billion rupees in the prior-year period.

The normalized profit margin increased to 15.5% from 14.8% in the year-earlier period.

Total revenue grew year over year to 57.48 billion rupees from 55.99 billion rupees, and total operating expenses rose year over year to 46.49 billion rupees from 45.38 billion rupees.

Reported net income increased 13.8% from the prior-year period to 10.40 billion rupees, or 35.90 rupees per share, from 9.14 billion rupees, or 31.60 rupees per share.

As of July 27, US$1 was equivalent to 67.18 Indian rupees.