how to read numbers of 6 digit in formal english

How to say these two numbers:

112177

1. eleven hundrends thousands and twenty one hundren and seventy seven
2. one hundred and twelve thousands and one hundred seventy seven

the same for this number

196455

Update 1

I understood from the first comment that there is no good and wrong way. but the problem is that i have to make a presentation in front of native speakers, and i want to say the numbers in a way they understand nomrally

they are mainly from uk, london

Update 2

these numbers represent the estimated profit for a product

• There is no single rule. You look at the number and decide which scheme will produce the best comprehension (while still being efficient), taking into account the individuals listening and any noise in the environment. – Hot Licks Jan 9 '16 at 19:32
• A lot depends on what these numbers represent. Phone numbers are treated differently from population numbers which are treated differently from monetary values which are treated differently from product identification numbers. – Hot Licks Jan 9 '16 at 19:37
• For estimated profits one would rarely specify more than 3 decimal places of precision. The first would be read as "122 thousand pounds", with "approximately" or "about" being added if one feels compelled to say that. – Hot Licks Jan 9 '16 at 19:40
• Nobody would read that first number "eleven hundred thousand and twenty one hundred and seventy seven". And if somebody did, they wouldn't be understood. – Peter Shor Jan 9 '16 at 19:48
• @Peter Especially because ‘eleven hundred thousand, twenty one hundred and twenty-seven’ is not 112,177, but 1,102,127. – Janus Bahs Jacquet Sep 5 '18 at 12:21