State-owned telco MTNL has appointed P K Purwar as its new Chairman and Managing Director (CMD) for a period of 5 years, according to this PTI report. Purwar first joined MTNL in May 2014 and currently works with the state-owned telco as Director of finance operations. Note that Purwar was given “additional charge” as CMD of MTNL in June last year, after Narendra Kumar Yadav, stepped from the CMD post at that time. Similarly, he also held the CMD post at MTNL shortly between June 2014 and June 2015.
Financials: MTNL’s losses widened to Rs 819.96 crore during the quarter ended December 2016 (Q3 FY17), from Rs Rs 768.32 crore in the preceding quarter and from Rs 671.58 crore loss in the same quarter last year. Overall operational revenue of the company decreased marginally by 5.3% to Rs 690.59 crore in the same quarter, from Rs 729.2 crore in the previous quarter. In the same quarter last year, MTNL posted overall revenues of Rs 756.22 crore.