New Delhi: P.K. Purwar has been given back the additional charge of chairman and managing director of Mahanagar Telephone Nigam Ltd (MTNL) after Narendra Kumar Yadav relinquished the top post on completion of his tenure.
Purwar, the director (finance) of MTNL, had earlier held the additional charge between June 2014 and June 2015. “Narendra Kumar Yadav has relinquished the charge of CMD of the company w.e.f. 8 June 2016. P.K. Purwar, director (finance), MTNL, has been entrusted with the additional charge of the post of CMD,” MTNL said in a filing to the BSE.
Yadav, a member (services) department of telecom, had been given the additional charge of CMD on 8 June 2015. The telecom public sector undertaking (PSU) has been without a full-time CMD since 30 May 2014 when A.K. Garg retired from the post.
Purwar was given additional charge after Garg’s retirement. Interestingly, Purwar’s name had been recommended for the MTNL’s top post by the public enterprises selection board (PESB) in November 2013, but the government did not go ahead with the recommendation.
MTNL, which offers telecom services in Delhi and Mumbai circles, has been making losses since 2009-10. The PSU posted a consolidated net loss of Rs.2,012.24 crore for year ended 31 March 2016, against that of Rs.2,901.16 crore at the end of March 2015.
The telecom firm, however, expects to post operational profit at the end of the current financial year and turn profitable in 2017-18. At the end of March 2016, the company had 3,56,085 wireless subscribers and 3,504,088 wireline users, according to Telecom Regulatory Authority of India’s data.