Roshni Nadar Malhotra succeeds father Shiv Nadar as HCL Tech Chairman

New Delhi: IT firm HCL Technologies on Friday announced that its Chairman Shiv Nadar has stepped down and named Roshni Nadar Malhotra, Nadar's daughter as the new Chairman.

Roshni will succeed him with immediate effect, the IT major said in a BSE filing, adding that Shiv Nadar would continue to be the Managing Director of the company.

“The Board of Directors has appointed Ms. Roshni Nadar Malhotra, Non-Executive Director as the Chairperson of the Board of Directors and the Company w.e.f. July 17, 2020, in place of Mr. Shiv Nadar who expressed his desire to step down from the position of the Chairman. Mr. Shiv Nadar would continue to be the Managing Director of the Company with the designation as the Chief Strategy Officer of the Company,” HCL said in a BSE filing.

The company on Friday posted 31.7 per cent rise in consolidated net profit at Rs 2,925 crore for the June 2020 quarter.

The IT major had registered a net profit of Rs 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 Rs 17,841 crore in the quarter under review, from Rs 16,425 crore in the corresponding quarter last year. On a sequential basis, the topline was lower by 4 per cent from Rs 18,590 crore in the March quarter.

HCL said that the Board of Directors has declared an Interim Dividend of Rs 2 per equity share of Rs 2 each of the Company for the Financial Year 2020-21. The Record date of July 25, 2020 fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The Payment date of the said interim dividend shall be August 7, 2020.