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Eicher Motors fiscal Q2 profit climbs 50.6% YOY


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Eicher Motors fiscal Q2 profit climbs 50.6% YOY

Eicher Motors Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 136.88 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 154.93 rupees per share.

EPS rose 50.6% year over year from 90.88 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.73 billion rupees, an increase of 50.6% from 2.48 billion rupees in the prior-year period.

The normalized profit margin increased to 21.3% from 19.1% in the year-earlier period.

Total revenue rose 35.0% on an annual basis to 17.55 billion rupees from 13.00 billion rupees, and total operating expenses grew 28.0% on an annual basis to 12.49 billion rupees from 9.75 billion rupees.

Reported net income grew 45.2% from the prior-year period to 4.13 billion rupees, or 151.52 rupees per share, from 2.85 billion rupees, or 104.36 rupees per share.

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