Balakrishnan V, chairman of Tata group firm Tejas Networks, has resigned, the company announced in a regulatory filing on Friday. Tejas Network’s board of directors has accepted the nomination of N Ganapathy Subramaniam, TCS’s chief operating officer and executive director, as non-executive chairman, effective May 18.

In the filing, Tejas stated, “Mr Balakrishnan V has submitted his resignation from the position of non-executive chairman with effect from April 23, 2022.”

In the same period a year ago, the company made a profit of Rs 33.55 crore. Tejas Networks’ consolidated revenue from operations fell 37.23% to Rs 126.5 crore in the reported quarter, down from Rs 201.55 crore in the March 2021 quarter.

Tejas Networks reported a loss of Rs 62.71 crore for the fiscal year ending March 31, 2022, compared to a profit of Rs 37.54 crore in 2020-21. Tejas Networks’ annual consolidated revenue from operations, on the other hand, rose 4.55 percent to Rs 550.59 crore from Rs 526.6 crore a year ago.

Tejas Networks Limited’s board of directors has named “N Ganapathy Subramaniam as non-executive chairman of the board of Tejas Networks Limited with effect from May 2018,” according to a supplementary filing.

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter.

"Exciting news! Elets technomedia is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!