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HCL Technologies profit misses consensus by 21.6% in fiscal Q2

HCL Technologies Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 15 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS declined 10.9% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $216.3 million, a decline of 10.8% from $242.5 million in the year-earlier period.

The normalized profit margin declined to 13.8% from 16.3% in the year-earlier period.

Total revenue rose 5.1% year over year to $1.57 billion from $1.49 billion, and total operating expenses rose 10.2% on an annual basis to $1.25 billion from $1.14 billion.

Reported net income declined from the prior-year period to $296.4 million, or 21 cents per share, from $310.2 million, or 22 cents per share.