The Hindu : News / National : BSNL’s loss triples to Rs 6,000 cr.
State-run Bharat Sanchar Nigam Limited's (BSNL) 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. The company had demanded refund of this money but denied by the Finance Ministry.
