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Mindtree profit misses consensus by 26.9% in fiscal Q3

Mindtree Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 6.74 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 9.21 rupees per share.

In the prior-year period, the per-share result was a profit of 6.68 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.13 billion rupees, compared with 1.12 billion rupees in the prior-year period.

The normalized profit margin dropped to 9.4% from 12.4% in the year-earlier period.

Total revenue grew 33.3% year over year to 12.10 billion rupees from 9.07 billion rupees, and total operating expenses rose 39.1% on an annual basis to 10.39 billion rupees from 7.47 billion rupees.

Reported net income totaled 1.40 billion rupees, or 8.34 rupees per share, compared to 1.42 billion rupees, or 8.43 rupees per share, in the prior-year period.

As of Jan. 19, US$1 was equivalent to 67.70 Indian rupees.