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Wipro profit misses consensus by 25.3% in fiscal Q2

Wipro Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3.24 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.34 rupees per share.

EPS climbed year over year from 3.14 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.01 billion rupees, a gain from 15.45 billion rupees in the prior-year period.

The normalized profit margin dropped to 13.7% from 14.3% in the year-earlier period.

Total revenue rose 8.4% on an annual basis to 116.84 billion rupees from 107.75 billion rupees, and total operating expenses rose 8.7% from the prior-year period to 95.10 billion rupees from 87.52 billion rupees.

Reported net income grew 7.8% year over year to 20.85 billion rupees, or 4.22 rupees per share, from 19.34 billion rupees, or 3.93 rupees per share.

As of Oct. 22, US$1 was equivalent to 61.24 Indian rupees.