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Eicher Motors fiscal Q1 profit climbs 29.3% YOY

Eicher Motors Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 155.09 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 167.72 rupees per share.

EPS increased 29.2% year over year from 120.02 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.23 billion rupees, an increase of 29.3% from 3.27 billion rupees in the prior-year period.

The normalized profit margin rose to 21.2% from 21.0% in the year-earlier period.

Total revenue climbed 28.6% on an annual basis to 20.01 billion rupees from 15.56 billion rupees, and total operating expenses grew 26.7% year over year to 14.25 billion rupees from 11.25 billion rupees.

Reported net income rose 22.1% on an annual basis to 4.60 billion rupees, or 168.43 rupees per share, from 3.76 billion rupees, or 138.01 rupees per share.

As of Aug. 9, US$1 was equivalent to 63.86 Indian rupees.