Broadcast news network Zee Media Corporation Ltd (ZMCL) on July 1 said Sudhir Chaudhary has resigned as chief executive officer (CEO) of the company with effect from July 1, 2022.

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"We wish to inform that Sudhir Chaudhary has resigned from the position of Chief Executive Officer of the company with effect from the close of business hours of July 1, 2022. Consequently, he also ceases to be the Key managerial personnel of the company," it said in an exchange filing.

Due to the resignation, the company has nominated Chief Business Officer Abhay Ojha as key managerial personnel in place of Sudhir Chaudhary, the company said.

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The company reported a consolidated net loss of Rs 51.45 crore for the fourth quarter ended March 31, 2022. However, revenue from operations increased 37.78 percent to Rs 247.73 crore during the quarter under review as against Rs 182.93 crore in the year-ago period.

Formerly known as Zee News Ltd, ZMCL is part of media baron Subhash Chandra-led Essel Group and operates one of the largest news networks, with 14 news channels in six different languages.

Shares of Zee Media Corporation ended at Rs 14, up by Rs 0.050, or 0.36 percent on the BSE.

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(Edited by : Shoma Bhattacharjee)

First Published:Jul 1, 2022 9:16 PM IST