Shiv Nadar, the founder of HCL Technologies Ltd, and its chief strategy officer has tendered his resignation as managing director, as well as a director, on completing 76 years of age. Nadar will, however, continue to guide the company in the capacity of chairman emeritus and strategic adviser to the board for five years. Vijayakumar, president and chief executive officer, has been appointed as the managing director for five years.
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The Noida-based IT services company posted a net profit of ₹3,214 crores for the June quarter, up nearly 10% annually. It is slightly below consensus Bloomberg estimates of ₹3,255.5 crores.
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