RattanIndia Power on Saturday announced that Vibhav Agarwal has resigned from the post of managing director (MD) due to personal reasons.
Agarwal also ceased to be key managerial personnel of the company from 3 June 2022.Asim Kumar De, whole time director of RattanIndia Power, has been assigned additional responsibilities to discharge the functions which were earlier assigned to managing director, for interim period, till the time a new managing director is appointed by the company.
RattanIndia Power is principally engaged in the business of dealing in power generation, distribution, trading and transmission and other ancillary and incidental activities.
On consolidated basis, the company reported a net loss of Rs 310.43 crore as against a net profit of Rs 39.32 crore in Q4 FY22 over Q4 FY21. Net sales declined 4.5% year on year to Rs 823.23 crore in the quarter ended 31 March 2022.
Shares of RattanIndia Power fell 4.78% to end at Rs 4.18 on Friday, 3 June 2022.
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