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Tata Motors fiscal Q1 profit climbs 142.2% YOY

Tata Motors Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 46.30 billion rupees, a gain of 142.2% from 19.11 billion rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 7.2% from 4.1% in the year-earlier period.

Total revenue increased 37.2% year over year to 641.51 billion rupees from 467.62 billion rupees, and total operating expenses increased 30.6% year over year to 559.88 billion rupees from 428.84 billion rupees.

Reported net income came to 53.98 billion rupees, compared with 17.26 billion rupees in the prior-year period.

As of Aug. 11, US$1 was equivalent to 61.19 Indian rupees.