Bharat Sanchar Nigam (BSNL) reduced its net loss to Rs 5,367 crore in FY24 from Rs 8,161 crore in FY23 due to stronger non-operating income and less costs, particularly in the area of financing.
The government's objective of Rs20,083 crore, which was part of the Rs 3.2 trillion revitalization package, was not met by the operations revenue, which increased by 1% to Rs19,343.6 crore. The corporation failed to meet the government's Rs. 20,008 crore goal. Throughout the year, revenue from the enterprise and cellular services segments decreased.
The total outlay decreased by 2.5% to Rs26,683 crore. Employee costs, which comprise salaries, wages, allowances, and other perks, amounted to Rs8,304 crore of total, representing a 4.4% increase from FY23. 43% of BSNL's operational revenue and 31.1% of its expenses are attributable to employee costs.
36% of BSNL's operating revenue comes from cellular services, which saw a 6% decline to Rs 7,006 crore. To Rs 5,090 crore, enterprise company income decreased by 4.5%.
The decrease in income from cellular services might be ascribed to subscriber attrition in the lack of 4G offerings from the organization. The broadband sector generated Rs 3,662 crore in revenue, a 9% increase.
The business has set sales objectives of Rs 24,428 crore for FY25 and Rs 28,476 crore for FY26. The firm aims to generate revenue of Rs 33,553 crore for FY27 and Rs 35,960 crore for FY28.
The corporation lost 26.2 million users in 27 straight months until March, bringing its overall subscriber count to 88.06 million as of the end of March. The business has begun rolling out 4G in parts of Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, and Uttarakhand utilizing an indigenous stack.
Boston Consulting Group (BCG) and the firm recently signed a contract wherein BCG would create a three-year plan to restructure the telecom operator and enable it to successfully compete with private telecom operators. BCG would receive Rs 132 crore from BSNL in exchange for the consulting service.
