Bhupendra Kumar Modi has stepped down as S Mobility Ltd’s (formerly Spice Mobility Ltd) chairman and director, the firm said in a BSE filing. The company has appointed board member Dilip Kumar Modi as the new chairman.
Dilip Modi has over 10 years of experience in the telecom business. He has been the managing director at Spice i2i Ltd since 2011. He currently serves as CEO of Spice Corp and group president and COO of Spice Global. He started his professional career in 1996 at McKinsey and was involved in restructuring of BK Modi Group’s businesses.
Earlier, he served as the managing director of S Mobility from 2010 to February 2012.
S Mobility’s revenues for the six months ended December 31, 2013, rose over 6 per cent to Rs 1,103 crore with net profit of Rs 9 crore against a net loss of Rs 9 crore in the same period the previous year, The company follows a July-June financial calendar.
Known as a mobile handset company, S Mobility has been trying to reposition itself as a mobile internet firm. Mobile devices still account for over 90 per cent of its revenues.
Early this month, the firm had appointed Madhusudan V as Chief Financial Officer.
(Edited by Joby Puthuparampil Johnson)