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BSNL’s loss touches Rs 6,000 cr during 2010-11

Posted on: November 11, 2011


  • State-run BSNL’s losses have more than tripled to about Rs 6,000 crore during 2010-11 mainly due to hefty outgo for employees’ salary and expenses borne by the PSU for procuring 3G and BWA spectrum. The company had registered a net loss of Rs 1,823 crore during 2009-10.

 

  • According to the unaudited results of the company, the loss for 2010-11 is Rs 5,997 crore. The reason for widening of the losses is mainly on account of payment made to the Government to procure 3G and BWA licenses. The company had paid a total of Rs 18,500 crore for both,” a senior BSNL official said.

 

  • This resulted in loss of other income of close to Rs 4,000 crore during the year gone by. BSNL had demanded refund of this money but denied by the Finance Ministry. The total revenues of the company also declined to Rs 28,876 crore during the year, down nearly 10 per cent from Rs 32,072 crore in the previous financial year.

 

  • More than 47 per cent of the total income of the company goes for the payment made to the BSNL’s employees,” the official said indicating the PSU may resort to voluntary retirement scheme to trip its workforce in line with recommendations made expert committee. BSNL had reported the highest net profit of over Rs 10,000 crore in 2005-06 but since then its profits have been falling and in 2009-10 it reported net losses.

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