HCL Technologies Q1 Results: Profit Falls; Firm Resumes Annual Guidance

Meanwhile, 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.

Other Key Highlights

• All geographies (Americas, Europe and Rest of the World) saw contraction during quarter on a sequential basis. As compared to the same period last year, Americas grew 1.2%, Rest of World 4% and Europe remained flat.
• All segments saw a decline on a quarter-on-quarter basis.
• Financial services vertical remained flat year-on-year as well as on a sequential basis.

Shares of HCL Technologies are trading as much as 1.47% higher on Friday compared with a 0.63% gain in the benchmark Nifty 50 Index.