Petronet LNG Ltd. on Wednesday introduced the appointment of Saurav Mitra as the corporate’s director of finance in addition to its chief monetary officer.
The corporate’s board of administrators, in a gathering held on the identical day, “accredited the appointment of Saurav Mitra as Director (Finance) and Chief Monetary Officer (whole-time KMP) of the corporate from the date of becoming a member of”, in line with an alternate submitting.
The appointment was made on the advice of nomination and remuneration committee and approval of the audit committee of the board, it added.
Mitra will take over from Vinod Kumar Mishra, whose tenure as director of finance and CFO might be expiring with impact from April 18, 2025.
The disclosure acknowledged that Mitra’s tenure might be for a interval of 5 years from the date of taking on the cost of the mentioned place.
Mitra, 56, is an affiliate member of the Institute of Price Accountants of India. He’s a “seasoned finance skilled” with a distinguished profession spanning greater than three many years in Indian Oil Corp. At Lanka IOC PLC., Mitra held key management place of CFO, the submitting added.
He performed an important function in driving monetary technique and operational excellence throughout a part of serious enterprise consolidation and development, it additional acknowledged.
The corporate will inform the inventory exchanges about Mitra’s date of becoming a member of, the submitting mentioned.
Earlier, on March 12, the oil and gasoline main had knowledgeable by way of a inventory alternate submitting concerning the “closure of buying and selling window for the aim of change in KMP”.
The corporate on Wednesday mentioned although “the mentioned occasion is being made public at massive”, the buying and selling window will proceed to stay closed for all insiders until 48 hours after the monetary outcomes for the quarter and yr ended March 31, 2025 would typically develop into out there to the general public.
For the third quarter of monetary yr 2024-25, Petronet LNG had introduced a sequential enhance of two.1% in its web revenue to Rs 867 crore. Within the previous quarter, the oil and gasoline firm had reported a revenue of Rs 849 crore.
Shares of Petronet LNG Ltd. closed 1.93% greater at Rs 301.35 apiece on the BSE, in comparison with a 0.4% advance within the benchmark Sensex. Nevertheless, the corporate shared the information concerning the change in management on Wednesday after the inventory markets had closed.
