Bharat Sanchar Nigam Limited (BSNL) has reported a net loss of Rs 53.67 billion in the fiscal year 2023-24 (FY24), which has narrowed from Rs 81.61 billion in FY23, on the back of lower expenses, especially finance cost, and higher non-operating income.
The company reported that revenue from operations grew 1 per cent to Rs 193.43 billion, missing the target of Rs 200.08 billion, set by the government as part of the Rs 3.2 trillion revival package. Meanwhile, revenue from cellular services and enterprise segment saw a decline during the year.
In addition, the company reported that total expenses fell 2.5 per cent to Rs 266.83 billion. Of this, employee cost, which includes salaries, wages, allowances, and other benefits, was at Rs 83.04 billion, an increase of 4.4 per cent from FY23. Further, company’s employee cost accounts for 31.1 per cent of the total expenses and 43 per cent of the operating revenue of BSNL.
Cellular services, which contributes 36 per cent to BSNL’s revenue from operations, witnessed a 6 per cent fall to Rs 70.06 billion, and enterprise business revenue fell 4.5 per cent to Rs 50.90 billion. The decline cellular services revenue is attributed to subscriber churn in the absence of 4G services by the company. Further, company’s revenue from the broadband business rose 9 per cent to Rs 36.62 billion.
For FY25 and FY26, BSNL has set revenue targets of Rs 244.28 billion and Rs 284.76 billion, respectively. Meanwhile, for FY27 and FY28, the company has a target to clock Rs 335.53 billion and Rs 359.60 billion in revenue, respectively.
