Home >Industry >Telecom >N.K.Yadav takes charge as MTNL CMD

New Delhi: State-run telecom operator MTNL on Tuesday said Narendra Kumar Yadav has taken over the charge of chairman and managing director of the company.

The PSU in a filing to BSE said that N.K. Yadav has “taken over charge of CMD, MTNL," with effect from 8 June. The filing also said that P.K. Purwar has “relinquished the charge of CMD of MTNL".

MTNL director finance Purwar was given additional charge of the post after company’s CMD A.K. Garg retired on 30 May 2014. Also, Purwar had been selected for the post of MTNL CMD by Public Enterprises Selection Board (PESB) in November 2013.

A DoT official said that Yadav has been given additional charge of the CMD post and the process to select a regular CMD will be started afresh.

MTNL has posted a standalone net loss of Rs595.11 crore in the fourth quarter ended 31 March 2015, due to sharp rise in expenditure and Rs2,893.39 crore net loss for full year 2014-15.

Shares of MTNL closed at Rs14.9 a unit, down by 1.32% compared to previous close at BSE on Tuesday.

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