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Shiv Nadar steps down from the Chairman’s role in the IT firm HCL Technologies on Friday. Mr Nadar’s daughter, Roshni Nadar Malhotra will lead him with immediate effect. He also posted a 31.7% rise in the net profit at 2,925 crores for the June 2020 quarter.

Founded by Roshni Malhotra’s father, Shiv Nadar in 1976, HCL became the central player in India’s rise as an IT hub. Roshni Malhotra is also the chairperson of the company’s CSR committee. She is also a trustee of the Shiv Nadar foundation which focused on education and she established some of India’s top schools and colleges. The filling said “Shiv Nadar, who expressed his desire to step down from the position of chairman. Mr Nadar would continue to be the MD of the company with designation as chief strategy officer. ”

HCL has 150,287 employees with the addition of gross 7,005 people at the end of June. HCL Technologies has also announced a dividend of Rs 2 per share. Filling said, “In constant currency terms, HCL Tech’s revenue in the June 2020 quarter grew 1% year-on-year.”

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