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Bajaj Auto fiscal Q2 profit climbs YOY

Bajaj Auto Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 35.39 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 33.93 rupees per share.

EPS rose year over year from 33.99 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.24 billion rupees, a gain from 9.84 billion rupees in the prior-year period.

The normalized profit margin increased to 16.9% from 16.2% in the year-earlier period.

Total revenue totaled 60.55 billion rupees, compared with 60.80 billion rupees in the year-earlier period, and total operating expenses came to 48.37 billion rupees, compared with 48.41 billion rupees in the year-earlier period.

Reported net income grew 7.2% from the prior-year period to 12.01 billion rupees, or 41.50 rupees per share, from 11.20 billion rupees, or 38.70 rupees per share.

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