BSNL registers a net loss of Rs 59.97 billion for 2010-11

 Bharat Sanchar Nigam Limited?s (BSNL) losses have increased three-fold to touch Rs 60 billion during 2010-11. This loss has been attributed to hefty outgoes for its employees’ salary and the cost of procuring 3G and BWA spectrum.

The company had registered a net loss of Rs 18.23 billion during 2009-10. According to the company?s unaudited results, the loss for 2010-11 is Rs 59.97 billion.

Moreover, the company had paid a total of Rs 185 billion for 3G and BWA spectrum. This resulted in further loss of close to Rs 40   billion in the previous year. In fact, BSNL had asked the Ministry of Finance to refund this amount, but the Ministry had declined.

BSNL?s total revenues also declined to Rs 288.76 billion during the year, a reduction of nearly 10 per cent from Rs 320.72 billion in the previous financial year.