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Aniruddha Deshmukh is new CEO of Mafatlal Industries
17
Aug '15
Mumbai-based textile major Mafatlal Industries has appointed Aniruddha Deshmukh as the chief executive officer (CEO) and managing director.
 
In a filing to the Bombay Stock Exchange, the company said its Board of Directors has approved the appointment of Aniruddha Deshmukh as managing director and CEO with effect from August 13, 2015.
 
Deshmukh is with Mafatlal Industries as its chief operating officer since July 10 this year, and as additional director since this month.
 
Earlier, he served as the president of Textiles division at Raymond Limited.
 
A mechanical engineer from Visvesvaraya National Institute of Technology, Nagpur, Deshmukh has done his post graduation in business management from IIM, Calcutta.
 
In the three months to June 30, 2015, net profit at the Hrishikesh Mafatlal-led company soared 68 per cent year over year to Rs 6.50 crore, driven by a massive surge in net sales.
 
During April-June quarter, the company posted a turnaround in its profit from operations before other income and finance costs at Rs 7.49 crore as against a loss of Rs 1.98 crore in the first quarter of previous fiscal. (RKS)
 

Fibre2Fashion News Desk – India


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