Bharat Sanchar Nigam Limited (BSNL) has narrowed its consolidated loss to Rs 74.41 billion in the financial year (FY) ended on March 31, 2021.

The company had posted a loss of Rs 154.99 billion in 2019-20. According to BSNL, the loss has come down mainly due to reduction in employee wages on account of voluntary retirement opted by 78,569 employees.

Meanwhile, the revenue from operations declined by 1.6 per cent to Rs 185.95 billion in 2020-21 compared to Rs 189.06 billion it reported in 2019-20. Further, BSNL’s net worth has come down to Rs 516.86 billion during FY2021 from Rs 591.39 billion in the previous year. The outstanding debt of the company increased to Rs 270.33 billion in FY2020-21 from Rs 216.74 billion in FY2019-20.