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HCL Technologies profit misses consensus by 18.7% in fiscal Q1

HCL Technologies Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS increased 30.7% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $228.1 million, an increase of 30.4% from $174.9 million in the year-earlier period.

The normalized profit margin rose to 15.9% from 13.8% in the year-earlier period.

Total revenue rose 12.8% year over year to $1.43 billion from $1.27 billion, and total operating expenses grew 12.7% from the prior-year period to $1.09 billion from $968.0 million.

Reported net income increased 37.3% on an annual basis to $310.5 million, or 22 cents per share, from $226.2 million, or 16 cents per share.