MTNL's CMD Narendra Kumar Yadav quits

NEW DELHI:  State-run telecom operator Mahanagar Telephone Nigam Ltd (MTNL)'s Chairman -cum-Managing Director (CMD) Narendra Kumar Yadav has resigned from his position.

"Narendra Kumar Yadav has relinquished the charge of CMD of the company, with effect from June 8, 2016. P.K. Purwar, Director (Finance), MTNL, has been entrusted with the additional charge of the post of CMD," MTNL informed BSE Ltd. (Bombay Stock Exchange).

MTNL, which provides services in Delhi and Mumbai, has been running in losses since 2009-10.

At the end of March 2016, it had 3,56,085 wireless subscribers and 3,504,088 wireline users.

The telco expects to post operational profit at the end of the current financial year and turn profitable in 2017-18.