HCL Tech has net profits of Rs. 2,925 crore in Q1 for FY 2020

HCL Tech has net profits of Rs. 2,925 crore in Q1 for FY 2020. IT company HCL’s net profit has risen to 31.7%  of Rs.2,925 crore for Q1, April- June.

HCL Tech has net profits of Rs. 2,925 crore in Q1 for FY 2020. IT company HCL’s net profit has risen to 31.7%  of Rs.2,925 crore for Q1, April- June.

Shiv Nadar has stepped down from the role of chairman,his daughter Roshni Nadar will succeed him.

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Its revenue grew 8.6 per cent to 17,841 crore in the quarter,from  16,425 crore in the corresponding quarter last year.

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.

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.

HCL Tech president and CEO C Vijaya Kumar said.

Shiv Nadar has stepped down from the chairmanship of the company however he will continue to be the Managing Director of the company.

HCL Tech has 1,50,287 employees till the end of June.