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Wipro profit misses consensus by 21.8% in fiscal Q2

Wipro Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3.55 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.54 rupees per share.

EPS increased 9.5% year over year from 3.24 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.48 billion rupees, an increase of 9.2% from 16.01 billion rupees in the year-earlier period.

The normalized profit margin rose to 14.0% from 13.7% in the year-earlier period.

Total revenue rose 7.1% on an annual basis to 125.14 billion rupees from 116.84 billion rupees, and total operating expenses increased 6.6% year over year to 101.38 billion rupees from 95.10 billion rupees.

Reported net income rose 7.2% year over year to 22.35 billion rupees, or 4.54 rupees per share, from 20.85 billion rupees, or 4.22 rupees per share.

As of Oct. 28, US$1 was equivalent to 64.92 Indian rupees.