IDPL's Dr. Idris Loya, who took over as the interim CEO of ZMCL in May, has reportedly proceeded on a 15-day leave and has gone to Singapore. The question to ponder is whether he is on his way out? Or is he likely to get a new role in the group? It’s not clear yet.
Loya spearheaded the IndiaDotcom Digital Pvt Ltd (IDPL) vertical and was given an additional charge as the interim CEO of ZMCL following the departure of Abhay Ojha, who exited the organisation with immediate effect in May. Once Karan Abhishek Singh joined as ZMCL CEO, the additional charge was taken away from Loya.
Singh will take over his responsibility and look after IDPL digital revenues. The entire digital team will now report to Singh, except the technology business.
Dr. Loya has been actively engaged in the area of Innovation Adoption and Technology Commercialization for about three decades in the capacities of a researcher, faculty, consultant, mentor, strategist, and corporate practitioner.
Prior to this, he was associated with Navtech Pte. Ltd., Jwlrai Pte. Ltd., Sony Singapore, Samsung Semiconductor, NIT Raipur, and other educational institutes of repute in India.
Dr. Loya has contributed to the State Planning Commission of Chhattisgarh in the capacity of a special invitee to Industrial Task Force on skill and MSME. He has contributed to both SMEs and MNCs as a consultant and is also a co-founder of a few technology business ventures.
According to the ZMCL’s annual report for the financial year 2024, the revenue from operations for the year ended March 31, 2024, declined by 11.42% to Rs 638.29 crore as compared to Rs 720.62 crore for the year ended March 31, 2023.
The company’s operation cost grew 7.34% to Rs 152.54 crore in FY24 against Rs 142.11 crore in FY23. Increase in television programmes and digital publishing business cost, including consultancy and professional charges and news subscription fees were some of the reasons for the hike.