New Delhi: Chairman and Managing Director Narendra Kumar Yadav, MTNL, has put down papers. MNL reported in its BSE filing that for the time being Director (Finance) P K Purwar has been given the charge of the CMD’s post.
”Narendra Kumar Yadav has relinquished the charge of CMD of the company w.e.f. June 8, 2016. P K Purwar, Director (Finance), MTNL has been entrusted with the additional charge of the post of CMD,” it said.
Earlier this month, MTNL had announced that it expects to post functioning profit at the end of the current financial year and turn profitable in 2017-18. In the 2015-16 fiscal year, according to reports MTNL is operating loss of Rs 1,944.60 crore on standalone basis.
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And for the fiscal ended March 31, 2016, MTNL has a net loss narrowed to Rs 2,005.74 crore, from Rs 2,893.39 crore a year-ago period.
The state-run telecom firm has been running in losses since 2009-10. The telecom firm, which has operations in Delhi and Mumbai circles, expects to post operational profit at the end of the current financial year and turn profitable in 2017-18.
The PSU reported operating loss of Rs 526.42 crore for the Janaury-March quarter of 2015-16. However, it was able to post a net profit of Rs 174.58 crore for the quarter on account of refunds for surrendering CDMA spectrum.
(With PTI inputs)
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