HCL tech commanded by country’s richest woman, Shiv Nadar removed, daughter Roshni Nadar becomes chairperson

IT company HCL Technologies said that Shiv Nadar has stepped down from the role of chairman of the company. Roshni Nadar Malhotra, daughter of Shiv Nadar, will replace her with immediate effect. Please tell that Roshni Nadar is the richest woman in the country. Also, the company said that its consolidated net profit in the June 2020 quarter increased by 31.7 per cent to Rs 2925 crore.

The company’s revenue grew 8.6 percent to Rs 17,841 crore
HCL Technologies told the stock market that the company had reported a net profit of Rs 2,220 crore in the April-June 2019 quarter. The company’s revenue grew 8.6 per cent to Rs 17,841 crore in the quarter under review, from Rs 16,425 crore in the same quarter last year. However, there has been a decrease of about four per cent in income compared to the March 2020 quarter.

HCL Technologies Chairman and CEO C Vijayakumar said that adverse conditions had a negative impact on our earnings this quarter, though the flexibility of the operating model helped maintain margins and cash flow. C Vijayakumar said that the company had enough deals, and it got 11 very important deals in this period.

Shiv Nadar himself had expressed his desire to step down as chairman of the company – to remain MD.
The company said that the board of directors has decided to replace Shiv Nadar with his daughter and the company’s non-executive director Roshni Nadar Malhotra as the board and chairman of the company. His appointment is effective from Friday. The company said that Shiv Nadar had expressed his desire to step down and he would remain the company’s MD with the designation of Chief Strategy Officer.