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Eicher Motors Q3 profit climbs 56.7% YOY

Eicher Motors Ltd. said its normalized net income for the third quarter amounted to 83.91 Indian rupees per share, an increase of 56.5% from 53.62 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.29 billion rupees, an increase of 56.7% from 1.46 billion rupees in the prior-year period.

The normalized profit margin increased to 7.3% from 6.5% in the year-earlier period.

Total revenue grew 38.7% year over year to 31.23 billion rupees from 22.51 billion rupees, and total operating expenses grew 35.7% from the prior-year period to 27.18 billion rupees from 20.02 billion rupees.

Reported net income rose 54.8% year over year to 2.55 billion rupees, or 93.69 rupees per share, from 1.65 billion rupees, or 60.62 rupees per share.

As of Nov. 6, US$1 was equivalent to 66.11 Indian rupees.