A.K. Garg, Mahanagar Telephone Nigam Limited?s (MTNL) newely appointed managing director is considering various options to turn around the operator financially, such as monetising its huge land bank.
He said, “My priority will be to minimise the company?s losses. We will work out ways to convert liability into assets, which includes our huge land bank on which we are paying hefty taxes.? He added that the aim is to maximise revenues.
In financial year 2011, the company posted a Rs 3.464 billion loss, in comparison to a profit of Rs 347.3 million in the corresponding year-ago period.
