Tejas Networks chairman quits, TCS senior executive NG Subramaniam to take charge

Tata group firm Tejas Networks chairman Balakrishnan V has resigned from his position, the company said in a regulatory filing on Friday.

The board of Tejas Network has approved the appointment of TCS chief operating officer and executive director N Ganapathy Subramaniam as non-executive chairman with effect from May 18.

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"Mr Balakrishnan V has submitted his resignation from the position of non-executive chairman with effect from April 23, 2022," Tejas said in the filing.

Tejas Networks on Friday posted a consolidated loss of Rs 49.62 crore in the fourth quarter ended on March 31, 2022, as the shortage of electronic chips hit its telecom gear production.

The company had posted a profit of Rs 33.55 crore in the period a year ago.

The consolidated revenue from operations of Tejas Networks declined by 37.23 per cent to Rs 126.5 crore during the reported quarter from Rs 201.55 crore in the March 2021 quarter.

For the year ended March 31, 2022, Tejas Networks posted a loss of Rs 62.71 crore while it had recorded a profit of Rs 37.54 crore in 2020-21. The annual consolidated revenue from operations of Tejas Networks, however, increased by 4.55 per cent to Rs 550.59 crore from Rs 526.6 crore posted a year ago

Tejas in a separate filing said that the board of directors of the company have appointed "N Ganapathy Subramaniam as non-executive chairman of the board of Tejas Networks Limited with effect from May 2018."