CG Power and Industrial Solutions consolidated net loss widened to Rs 85.98 crore for the quarter ended June 30, 2017 compared to the year-ago period.
The company had reported Rs 10.43 crore loss in the quarter ended June 30, 2016, CG Power and Industrial Solutions said in a BSE filing today.
The company's total consolidated income decreased to Rs 1,448.22 crore in the quarter from Rs 1,538.81 crore a year ago.
It said its board at a meeting held today approved the transfer of Madhav Acharya, Executive Director- Finance and CFO of the company to Avantha Group with effect from August 12, 2017.
Acharya shall continue as a Non-Executive Director of the company till September 30, 2017.
Consequently the board has also approved the appointment of V R Venkatesh, Chief Financial Officer of the company's international operations, as Chief Financial Officer with effect from August 12, 2017, it added.
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