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Bajaj Auto fiscal Q1 profit falls YOY

Bajaj Auto Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 26.62 Indian rupees per share, a decline of 13.6% from 30.80 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.71 billion rupees, a decline of 13.6% from 8.92 billion rupees in the year-earlier period.

The normalized profit margin fell to 13.4% from 15.5% in the year-earlier period.

Total revenue came to 57.66 billion rupees, compared with 57.48 billion rupees in the year-earlier period, and total operating expenses decreased from the prior-year period to 45.80 billion rupees from 46.49 billion rupees.

Reported net income fell 19.5% from the prior-year period to 8.37 billion rupees, or 28.90 rupees per share, from 10.40 billion rupees, or 35.90 rupees per share.

As of July 20, US$1 was equivalent to 64.37 Indian rupees.