BSNL has reported a 70.4 per cent growth in net profit to Rs 10.18 billion during 2004-05, as against Rs 5.97 billion during 2003-04. The company gained around Rs 21 billion on account of tax refunds and write-back of tax provisions in the previous year. It received another Rs 12 billion from the government from the USO Fund while it paid a dividend of Rs 11.75 billion to the government on account of the latter’s 100 per cent shareholding in the PSU. The company’s turnover rose 6 per cent to Rs 360 billion during 2004-05, compared with around Rs 340 billion in the previous financial year. BSNL said that public sector telecom equipment manufacturers will be given 25-30 per cent of its upcoming tender for 60 million GSM lines.
