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Inditex profit misses consensus by 18.6% in fiscal Q3

Industria de Diseño Textil SA said its normalized net income for the fiscal third quarter ended Oct. 31 was 20 euro cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS rose 5.2% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €607.9 million, a gain of 5.1% from €578.6 million in the year-earlier period.

The normalized profit margin dropped to 13.1% from 13.5% in the year-earlier period.

Total revenue rose 8.3% on an annual basis to €4.62 billion from €4.27 billion, and total operating expenses grew 9.6% year over year to €3.66 billion from €3.34 billion.

Reported net income rose 4.9% on an annual basis to €758.9 million, or 24 cents per share, from €723.2 million, or 23 cents per share.