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HCL Technologies profit misses consensus by 24.5% in fiscal Q3

HCL Technologies Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 15 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS climbed year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $215.5 million, an increase from $207.6 million in the prior-year period.

The normalized profit margin declined to 14.5% from 15.3% in the year-earlier period.

Total revenue grew 9.5% on an annual basis to $1.49 billion from $1.36 billion, and total operating expenses increased 14.3% from the prior-year period to $1.17 billion from $1.03 billion.

Reported net income came to $268.2 million, or 19 cents per share, compared with $268.5 million, or 19 cents per share, in the prior-year period.