Neotel, South Africa’s second fixed-line phone operator, aims to be profitable by the end of its 2011 financial year in March 2012, media reported.

Neotel announced on Tuesday that it had appointed Sunil Joshni as the company’s new managing director and chief executive operator.

Tata Communications has bought the 30% stake in Neotel previously held by Eskom and Transnet, it was reported on Monday.