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Tata Motors fiscal Q2 profit climbs 190.7% YOY

Tata Motors Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 22.26 billion rupees, a rise of 190.7% from 7.66 billion rupees in the year-earlier period.

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

The normalized profit margin rose to 3.2% from 1.2% in the year-earlier period.

Total revenue rose 6.5% on an annual basis to 701.56 billion rupees from 659.00 billion rupees, and total operating expenses increased on an annual basis to 661.88 billion rupees from 640.72 billion rupees.

Reported net income came to 24.83 billion rupees, compared with 8.28 billion rupees in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 65.08 Indian rupees.