New Delhi, Jul 17 (PTI) IT firm HCL Technologies on Friday posted 31.7 per cent rise in consolidated net profit at Rs 2,925 crore for the June 2020 quarter, and said that Shiv Nadar has stepped down from the Chairman's role.

Nadar's daughter, Roshni Nadar Malhotra, will succeed him with immediate effect.

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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.

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On a sequential basis, the topline was lower by 4 per cent from Rs 18,590 crore in the March quarter.

"The adverse conditions during this quarter had an anticipated negative impact on our revenue. I am happy to report that the resilience of our operating model helped us deliver stellar operating margins and cashflows," HCL Technologies President and CEO C Vijayakumar said.

He added that the company had healthy bookings, enabled by 11 new transformational deal wins.

"We also renewed several large deals during the quarter... We are seeing a robust demand environment and a strong pipeline which gives us confidence in our growth trajectory going forward," he said.

The filing said the Board of Directors has appointed Roshni Nadar Malhotra, Non-Executive Director as Chairperson of Board and company with effect from Friday in place of her father, Shiv Nadar.

"...Shiv Nadar, who expressed his desire to step down from position of Chairman. Mr Nadar would continue to be MD of Company with designation as Chief Strategy Officer," the filing said.

In constant currency terms, HCL Tech's revenue in June 2020 quarter grew 1 per cent year-on-year, the filing said.

HCL Technologies expects its revenue to increase quarter-on-quarter by an average of 1.5-2.5 per cent in constant currency for the next three quarters, it added.

HCL Technologies has announced a dividend of Rs 2 per share.

At the end of June 2020 quarter, HCL had 150,287 employees with a gross addition of 7,005 people. Its attrition for IT services (on last 12 month basis) was at 14.6 per cent. PTI SR DRR DRR 07170939 NNNNt the same watching live from New York in our hyper-connected world. We WhatsApp-ed, then moved on with the rest of our weekends.

The same friend and I had attended a match that we still reminisce about where a winning goal, a penalty deep into stoppage time, had sent my row bonkers, us included, and seemed to take the roof off.

Those are the joys. Camaraderie with several people I sit with as a season ticket holder for more than a quarter century. The pre-match rituals, the pub for a couple looseners (or not, in the event my teenage son, who has gone off the game in the last few years, accompanies me — a rare treat).

Then on Thursday, a win — but dreary watching nonetheless. I'll keep watching the matches every few days as the league races to complete the interrupted season. But let's not kid ourselves: Like so much else, this was a financial decision as lockdowns are eased across the world to resuscitate flatlining economies.

Hundreds of millions in various currencies are at stake for the monstrous cash-cow brand; global TV rights are in the balance.

But the first ''home"" game of the pandemic rest-of-season this week will feel especially soulless to view denuded of fans and denuded of me. And I cannot even fathom when it will cease to be insanity to attend an event with some 60,000 other people again.

Memories fortify. Maybe Humphrey Bogart's Rick was right in ''Casablanca'': "We'll always have ...'' ___

Virus Diary, an occasional feature, showcases the coronavirus pandemic through the eyes of Associated Press journalists around the world. See previous entries here. AP

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)