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Eicher Motors fiscal Q1 profit climbs 59.8% YOY

Eicher Motors Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 120.02 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 139.35 rupees per share.

EPS climbed 59.7% year over year from 75.16 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.27 billion rupees, an increase of 59.8% from 2.05 billion rupees in the year-earlier period.

The normalized profit margin increased to 21.0% from 18.7% in the year-earlier period.

Total revenue grew 42.0% on an annual basis to 15.56 billion rupees from 10.96 billion rupees, and total operating expenses grew 35.1% on an annual basis to 11.25 billion rupees from 8.33 billion rupees.

Reported net income increased 58.6% on an annual basis to 3.76 billion rupees, or 138.01 rupees per share, from 2.37 billion rupees, or 87.08 rupees per share.

As of July 28, US$1 was equivalent to 67.01 Indian rupees.