HCL TECH NET UP 16%, CEO RESIGNS TO START ₹100-CR VENTURE FUND

NEW DELHI IT services firm HCL Technologies on Friday reported a 16.7% increase in net profit at ₹2,014 crore for the quarter ended September 2016, against the same period last year. Revenues rose 14.1% to ₹11,519 crore, from ₹10,097 crore in the year-ago period. Earlier in the day, HCL Tech said CEO Anant Gupta had put in his papers to pursue personal interests. The company has elevated current chief operating officer C Vijayakumar to the post. Gupta has set up a ₹100-crore fund Techcexl to support ventures working on technologies, including machine learning, Internet of Things, artificial intelligence, analytics and data science. “With Techcelx, I am pursuing my long-term goals and passion towards promoting our country’s entrepreneurship and innovation potential ,” Gupta said.