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HCL Technologies profit misses consensus by 18.9% in fiscal Q3

HCL Technologies Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was 17 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS increased 12.3% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $243.0 million, an increase of 12.3% from $216.3 million in the prior-year period.

The normalized profit margin climbed to 13.9% from 13.8% in the year-earlier period.

Total revenue climbed 11.4% on an annual basis to $1.75 billion from $1.57 billion, and total operating expenses rose 11.0% on an annual basis to $1.39 billion from $1.25 billion.

Reported net income grew on an annual basis to $310.7 million, or 22 cents per share, from $296.4 million, or 21 cents per share.