Roshni Nadar Malhotra Succeeds Shiv Nadar as HCL Chairman

HCL Technologies has posted a profit of Rs. 2,935 crores in first quarter of 2020.

By ANI | Updated: 17 July 2020 15:25 IST

Roshni Nadar Malhotra Succeeds Shiv Nadar as HCL Chairman

The company said its board of directors has appointed Roshni Nadar Malhotra as Chairperson

Highlights

HCL posted a net profit of Rs 2,935 crore for the April-June quarter
Shiv Nadar is stepping down from the Chairman's role
HCL Technologies had clocked a net profit of Rs 2,230 crore in Q1 FY19

IT major HCL Technologies on Friday posted a consolidated net profit of Rs 2,935 crore for the April to June quarter and said that Shiv Nadar is stepping down from the Chairman's role.

His daughter Roshni Nadar Malhotra will succeed him with immediate effect.

HCL Technologies had clocked a net profit of Rs 2,230 crore in Q1 FY19 and Rs 3,172 crore in Q4 FY20.

In Q1 FY21, the company's revenue totalled Rs 17,842 crore as compared to Rs 16,427 crore in the corresponding quarter last year. On a sequential basis, the top line was lower from Rs 18,587 crore in the March quarter.

Q1 of FY'21 witnessed resilient revenue growth across verticals, driven by Financial Services at 11.7%, Lifesciences & Healthcare at 7.1%, Public Services at 7.0%, and Retail & CPG at 6.7% (YoY in CC). #HCLQ1 pic.twitter.com/NAVPjZpfpC
— hcltech (@hcltech) July 17, 2020

HCL Technologies has announced a dividend of Rs 2 per share. At the end of June, it had 1.5 lakh employees with gross addition of 7,005 people.

The company said its board of directors has appointed Roshni Nadar Malhotra, Non-Executive Director as Chairperson of the board and company with effect from Friday in place of her father Shiv Nadar.

"Shiv Nadar, who expressed his desire to step down from the position of Chairman, will continue to be the Managing Director of the company with designation as the Chief Strategy Officer," it said in a statement.

Why are smartphone prices rising in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.