State-run ITI Ltd today said KK Gupta, Director (Production) has been given additional charge as CMD of the company effective June 1.
"Government of India, Ministry of Communications & IT vide its order dated June 04, 2015 has entrusted additional charge of the post of Chairman and Managing Director to K K Gupta, Director (Production) from June 01, 2015," the company said in a filing to the BSE.
The charge will be for a period of six months or till the appointment of a regular incumbent or till the date of his superannuation or until further orders, whichever is earlier, the filing added.
The company reported a loss of Rs 297.13 crore for the financial year ended March 31, 2015. Total income from operations stood at Rs 574.33 crore for the reported fiscal.
The firm is primarily engaged in business of manufacturing, trading and servicing of telecommunications equipment.
ITI is a sick company and the government has approved a financial assistance of Rs 4,156.79 crore in February 2014 for its revival.
