PK Purwar, who was made in charge as MTNL Chairman & Managing Director in June, will continue in the same responsibility for 3 more months, starting 8 June, reports Business Standard. Purwar is actually the state run telco’s Director of Finance and was handed additional responsibility after former CMD Narendra Kumar Yadav relinquished his charge, one year after his appointment. MTNL has not had a full time CMD since May 2014 and is currently looking for one, according to the report. It has formed a committee in order to appoint a CMD on a deputation period of 5 years. In 2014, MTNL had appointed Purwar as the chairman and managing director of MTNL, after AK Garg retired from the company. Purwar was previously the Director (Finance) at MTNL and PESB had recommended (pdf) him for the CMD position in November 2013. Financials: MTNL posted a net profit of Rs 174.58 crore for the quarter ended March 31. It has been in a continuous streak of losses since Q1 FY15. In the preceding quarter, MTNL reported a loss of Rs 704.93 crore and a loss of Rs 595.11 crore in the same quarter last year. However, total operational revenue for MTNL decreased 4.26% to Rs 835.79 crore for the quarter, from Rs 873.01 crore in the same quarter last year. Recent developments: – In April, MTNL added 10,091 mobile subscribers in April, 2016. Following the addition, the company’s total subscriber count stood at 35.70 lakh with a market share of 0.46%. In the same month,…
