The IT major had registered a net profit of ₹2,220 crore in the April-June 2019 quarter
Shiv Nadar's daughter, Roshni Nadar Malhotra, will succeed him with immediate effect
NEW DELHI :
IT firm HCL Technologies on Friday posted 31.7% rise in consolidated net profit at ₹2,925 crore for the June 2020 quarter, and said that Shiv Nadar has stepped down from the Chairman's role.
Nadar's daughter, Roshni Nadar Malhotra, will succeed him with immediate effect.
The IT major had registered a net profit of ₹2,220 crore in the April-June 2019 quarter (as per US GAAP), HCL Technologies said in a regulatory filing.
Its revenue grew 8.6 per cent to ₹17,841 crore in the quarter under review, from ₹16,425 crore in the corresponding quarter last year.
On a sequential basis, the topline was lower by 4 per cent from ₹18,590 crore in the March quarter.
"The adverse conditions during this quarter had an anticipated negative impact on our revenue. I am happy to report that the resilience of our operating model helped us deliver stellar operating margins and cashflows," HCL Technologies President and CEO C Vijayakumar said.
He added that the company had healthy bookings, enabled by 11 new transformational deal wins.
"We also renewed several large deals during the quarter... We are seeing a robust demand environment and a strong pipeline which gives us confidence in our growth trajectory going forward," he said.