Mahanagar Telephone Nigam (MTNL) rallied 6.29% to Rs 49.20 after it announced that Ravi A Robert Jerard has been appointed as chief managing director (CMD) for a period of six months with effect from 15 July 2024.
Further, the firm also informed that P.K. Purwar ceased to be CMD of MTNL on 14 July 2024 on account of non extension of tenure of his tenure as CMD of BSNL beyond the same date.Mahanagar Telephone Nigam is engaged in providing telecom services in the geographical area of Mumbai and Delhi.
The companys consolidated net loss widened to Rs 783.74 crore in Q4 FY24 from net loss of Rs 748.55 crore recorded in Q4 FY23. Revenue from operations fell 4.63% YoY to Rs 209.02 in Q4 FY24.
The counter has hit an all-time high of Rs 52.48 in today's intra-day session.
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