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Bajaj Auto fiscal Q2 profit falls YOY

Bajaj Auto Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 34.50 Indian rupees per share, a decrease from 35.39 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 9.99 billion rupees, a decline from 10.24 billion rupees in the year-earlier period.

The normalized profit margin fell to 14.6% from 16.9% in the year-earlier period.

Total revenue climbed 13.1% on an annual basis to 68.50 billion rupees from 60.55 billion rupees, and total operating expenses grew 10.2% year over year to 53.32 billion rupees from 48.37 billion rupees.

Reported net income came to 11.94 billion rupees, or 41.20 rupees per share, compared with 12.01 billion rupees, or 41.50 rupees per share, in the prior-year period.

As of Oct. 17, US$1 was equivalent to 65.03 Indian rupees.