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Wipro profit misses consensus by 22.0% in fiscal Q3

Wipro Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3.43 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.40 rupees per share.

EPS increased 6.0% year over year from 3.24 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.96 billion rupees, an increase of 6.3% from 15.96 billion rupees in the year-earlier period.

The normalized profit margin declined to 14.1% from 14.2% in the year-earlier period.

Total revenue grew 6.4% on an annual basis to 119.93 billion rupees from 112.71 billion rupees, and total operating expenses climbed 7.7% on an annual basis to 96.82 billion rupees from 89.90 billion rupees.

Reported net income grew 8.9% year over year to 21.93 billion rupees, or 4.44 rupees per share, from 20.14 billion rupees, or 4.09 rupees per share.

As of Jan. 16, US$1 was equivalent to 61.69 Indian rupees.