Roshni Nadar succeeds Shiv Nadar Chairman of HCL Tech, company’s Q1 net profit up at Rs 2,935 crore

Her father and HCL founder Shiv Nadar will step down as chairman but will continue to be the Managing Director and Chief Strategy Officer of the company.

Written by July 17, 2020 13:14

New Delhi: Roshni Nadar Malhotra, India’s richest woman, has been appointed new Chairman of HCL Technologies, the company announced on Friday.

The 38-year-old succeeds her father Shiv Nadar. She will take over from father with immediate effect. Earlier, she was the Executive Director and the CEO of HCL Enterprise.

Shiv Nadar with daughter

According to IIFL Wealth Hurun India Rich List (2019), Roshni Nadar is the richest woman in India.

Her father and HCL founder Shiv Nadar will step down as chairman but will continue to be the Managing Director and Chief Strategy Officer of the company.

“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.

HCL Q1 net profit up @ Rs 2,935 crore

IT major HCL Technologies on Friday posted a consolidated net profit of Rs 2,935 crore for the April to June quarter.

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.

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.