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Wabco India profit misses consensus by 22.7% in fiscal Q3

Wabco India Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 13.10 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 16.95 rupees per share.

EPS increased 30.6% year over year from 10.03 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 248.4 million rupees, an increase of 30.6% from 190.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 8.3% from 7.9% in the year-earlier period.

Total revenue grew 24.5% year over year to 3.00 billion rupees from 2.41 billion rupees, and total operating expenses increased 24.0% from the prior-year period to 2.65 billion rupees from 2.14 billion rupees.

Reported net income rose 40.3% on an annual basis to 283.3 million rupees, or 14.94 rupees per share, from 202.0 million rupees, or 10.65 rupees per share.

As of Jan. 23, US$1 was equivalent to 61.41 Indian rupees.