HCL Tech Q1 net profit up 31.7% at Rs 2,925 cr; Shiv Nadar steps down as Chairman

HCL Tech witnessed a 7.3% drop in net profit at Rs 2,925 cr in Q1, as compared to the same period last year. The profit, however, was up 31.7% YoY.  It clocked a revenue of Rs 17,841 cr, down 4% sequentially and up 8.6% YoY. It expects revenue to grow by 1.5% – 2.5% in the rest of the year on a sequential basis. HCL has appointed Roshni Nadar Malhotra as the Chairperson of the Board in place of farther Shiv Nadar who will continue as the MD and chief strategy officer.

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