MTNL's chief Narendra Kumar Yadav resigns
A labourer carries oil containers as a man speaks on a wireless phone outside the Public Call Office (PCO) at a wholesale grocery market in Kolkata December 8, 2010. Image Source: Reuters/Rupak De Chowdhuri
State-run firm MTNL on Thursday said its Chairman and Managing Director Narendra Kumar Yadav has resigned.
Director (Finance) P K Purwar has been given the additional charge of the CMD's post, MTNL said in a Bombay Stock Exchange (BSE) filing.
"Narendra Kumar Yadav has relinquished the charge of CMD of the company with effect June 8, 2016. P K Purwar, Director (Finance), MTNL has been entrusted with the additional charge of the post of CMD," it said.
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 state-run telecom firm has been running in losses since 2009-10.
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 (Trai) data.