Gopal Vittal will be re-appointed as MD and CEO of Airtel, gets approval from shareholders

Bharti Airtel shareholders have approved the proposal for reappointment of Gopal Vittal as the Managing Director of the company. This information has been given in the information given to the stock exchanges regarding the Annual General Meeting (AGM) of the company held on August 12.

Bharti Airtel shareholders have approved the proposal for reappointment of Gopal Vittal as the Managing Director of the company.

Shareholders of telecom company Bharti Airtel have approved the proposal to re-appoint Gopal Vittal as the Managing Director of the company. This information has been given in the information given to the stock exchanges regarding the Annual General Meeting (AGM) of the company held on August 12. According to this, more than 97 percent of the shareholders’ votes were in favor of Vittal’s reappointment and it has been passed with the required majority.

tenure of five years

In the annual general meeting of the company, a special proposal regarding payment of salary to Vittal as Managing Director and Chief Executive Officer has also been approved. His new term will be of five years and will start from 1 February 2023.

Vittal was appointed as the Managing Director and CEO of Airtel for the first time on 1 February 2018. His current term was to end on 31 January 2023.

Let us tell you that the consolidated net profit of Bharti Airtel has increased more than five times to Rs 1,607 crore in the April-June quarter of the current financial year 2022-23. Airtel gave this information to the stock exchanges on Monday. Earlier, in the same quarter of the financial year 2021-22, the company’s net profit was Rs 283.5 crore. The company’s consolidated operating income grew nearly 22 per cent to Rs 32,805 crore for the quarter ended June 2022 from Rs 26,854 crore in the same quarter a year ago.

Bharti Airtel’s mobile service revenue in the country grew by 27 per cent to Rs 18,220 crore as against Rs 14,305.6 crore in the same quarter a year ago.

The country’s giant telecom company Bharti Airtel has allotted more than 71 million equity shares to Internet giant Google at a price of Rs 734 per share. Airtel said in the information sent to the stock exchanges that this allocation has been made as part of Google’s commitment to invest one billion dollars in Airtel. This includes an equity investment of $ 700 million (about Rs 5,224 crore) in the company. Airtel said that the special committee of directors on preferential allotment of the company, held on July 14, approved the allotment of shares of face value of Rs 5 to Google International LLC at an issue price of Rs 734 per share.

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