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Wipro profit misses consensus by 16.5% in fiscal Q2

Wipro Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3.50 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 4.19 rupees per share.

EPS climbed year over year from 3.36 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.00 billion rupees, a gain from 16.31 billion rupees in the prior-year period.

The normalized profit margin increased to 12.7% from 11.8% in the year-earlier period.

Total revenue decreased year over year to 134.23 billion rupees from 137.66 billion rupees, and total operating expenses declined from the prior-year period to 111.65 billion rupees from 115.97 billion rupees.

Reported net income rose 6.1% on an annual basis to 21.94 billion rupees, or 4.52 rupees per share, from 20.68 billion rupees, or 4.26 rupees per share.

As of Oct. 19, US$1 was equivalent to 65.00 Indian rupees.