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Eicher Motors fiscal Q2 profit climbs 24.3% YOY

Eicher Motors Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 169.94 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 192.25 rupees per share.

EPS rose 24.1% year over year from 136.88 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.64 billion rupees, a gain of 24.3% from 3.73 billion rupees in the prior-year period.

The normalized profit margin climbed to 21.4% from 21.3% in the year-earlier period.

Total revenue rose 23.5% year over year to 21.67 billion rupees from 17.55 billion rupees, and total operating expenses grew 22.9% on an annual basis to 15.34 billion rupees from 12.49 billion rupees.

Reported net income rose 25.4% from the prior-year period to 5.18 billion rupees, or 189.74 rupees per share, from 4.13 billion rupees, or 151.52 rupees per share.

As of Nov. 14, US$1 was equivalent to 65.45 Indian rupees.