HCL chairman Shiv Nadar resigns, daughter Roshni Nadar will assume responsibility

Shiv Nadar, chairman of tech company  HCL Technology, has resigned from his post. Now Shiv Nadar's daughter Roshni Nadar Malhotra will take over as the chairman of the company. The company has given this information in a regulatory filing on Friday. According to the regulatory filing, the Board of Directors has appointed Roshni Nadar Malhotra as the chairman of the board and the company. Roshni was a non-executive director at the company. The filing states that Shiv Nadar will continue to be the company's Managing Director (MD) and Chief Strategy Officer.

According to the regulatory filing, the company reported a profit of Rs 2925 crore in the first quarter of the current financial year. This is 31.7% higher than Rs 2220 crore in the year-ago period. This year HCL's revenue grew 8.6 per cent to Rs 17,841 crore. The company's revenue was Rs 16,425 crore in the same period a year ago. However, it was 4% lower than the 18,590 crores in the March quarter. HCL Technology President and CEO C. Vijayakumar said that adverse conditions had negatively impacted revenue in the first quarter and recorded a decrease. He said that the flexible operating model has helped us deliver operating margins and cashflows. He said that the company has some good bookings including 11 new deals.

The company has announced a dividend of Rs 2 per share to its shareholders. The company had 1,50,287 employees at the end of the June quarter. It also includes 7005 new employees. The company's attrition has been 14.6 per cent based on the past 12 months.