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Eicher Motors fiscal Q3 profit climbs 57.9% YOY

Eicher Motors Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was 141.61 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 151.58 rupees per share.

EPS increased 57.8% year over year from 89.73 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.86 billion rupees, a gain of 57.9% from 2.45 billion rupees in the prior-year period.

The normalized profit margin climbed to 21.1% from 19.0% in the year-earlier period.

Total revenue increased 42.9% on an annual basis to 18.35 billion rupees from 12.84 billion rupees, and total operating expenses grew 34.9% from the prior-year period to 12.93 billion rupees from 9.59 billion rupees.

Reported net income rose 50.0% year over year to 4.18 billion rupees, or 153.28 rupees per share, from 2.79 billion rupees, or 102.23 rupees per share.

As of Feb. 1, US$1 was equivalent to 67.45 Indian rupees.