Indus Towers appoints Prachur Sah as MD & CEO for 5 years

Indus Towers said that its board has appointed Prachur Sah as an additional director as well as managing director and chief executive officer (MD & CEO) of the company with effect from 3 January 2023, for a period of five years.

The appointment of Sah will be subject to the approval of shareholders in accordance with the applicable laws, said the company.

Prachur Sah is an Electrical Engineer from Indian Institute of Technology, Mumbai and MSc in Management from Heriott Watt University, Edinburgh. He has an experience of over 22 years.

He is currently the CEO for Oil & Gas Vertical of Vedanta. As an oil & gas industry leader, he has experience across 2 models in the sector - upstream asset development and management and upstream engineering and technology services. In his current role, he has been handling a profit & loss (P&L) with revenue of more than $7B USD and is instrumental in leading the next phase of organizational growth with a focus on delivering volumes, cost, growth projects, R&R, and monetization (new blocks).

Sah joined Cairn Oil & Gas in 2018 as director - NV, Open Acreage Licensing Policy (OALP) block where he was responsible for the 51 new blocks awarded to Cairn and resulting exploration opportunities. He was previously associated with Schlumberger for close to 18 years. He was the managing director of Schlumberger, South Asia region prior to moving to Cairn.

He has formerly held leadership positions in line management, HR, safety, marketing in Schlumberger across the Middle East, Latin America, Europe, India, and the U.S. which gave him exposure to operations, strategic planning, and oil and gas management.

Indus Towers is India's leading provider of passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

The company's consolidated net profit slumped 44.1% to Rs 871.80 crore despite of 15.9% rise in revenue from operations to Rs 7,966.60 in Q2 FY23 over Q2 FY22.

Shares of Indus Towers declined 1.17% to Rs 189.90 on the BSE.

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