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HCL Technologies profit misses consensus by 20.0% in fiscal Q2

HCL Technologies Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 17 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS increased 9.8% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $237.7 million, a gain of 9.9% from $216.3 million in the second quarter ended Dec. 31, 2015.

The normalized profit margin declined to 13.8% from 13.8% in the year-earlier period.

Total revenue increased 10.0% on an annual basis to $1.72 billion from $1.57 billion, and total operating expenses grew 9.9% on an annual basis to $1.38 billion from $1.25 billion.

Reported net income totaled $296.6 million, or 21 cents per share, compared with $296.4 million, or 21 cents per share, in the second quarter ended Dec. 31, 2015.