State-run telecom operator MTNL has announced that PK Purwar, MTNL’s Director of Finance will handle the additional charge of Chairman & Managing Director (CMD). The company’s BSE notification mentioned that former CMD Narendra Kumar Yadav had relinquished his charge as CMD from 8 June 2016, exactly after one year of his appointment, but did not divulge any further details.
In 2014, MTNL had appointed Purwar as the chairman and managing director of MTNL. This was 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.
– 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, telecom minister Ravi Shankar Prasad said that that there was no proposal to merge BSNL and MTNL, but the operators were trying to generate maximum revenues for their revival.
– In March, MTNL received a compensation amount of Rs 428.95 crore from the government in return for surrendering 800 Mhz of CDMA spectrum after MTNL originally proposed Rs 458.04 as compensation.