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Eicher Motors Q2 profit climbs 42.4% YOY

Eicher Motors Ltd. said its normalized net income for the second quarter amounted to 69.16 Indian rupees per share, an increase of 42.1% from 48.66 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.88 billion rupees, a gain of 42.4% from 1.32 billion rupees in the prior-year period.

The normalized profit margin climbed to 6.5% from 6.0% in the year-earlier period.

Total revenue increased 31.3% on an annual basis to 29.17 billion rupees from 22.22 billion rupees, and total operating expenses increased 28.7% from the prior-year period to 25.64 billion rupees from 19.93 billion rupees.

Reported net income increased 40.9% year over year to 2.22 billion rupees, or 81.42 rupees per share, from 1.57 billion rupees, or 57.88 rupees per share.

As of July 21, US$1 was equivalent to 63.54 Indian rupees.