BSNL posts Rs.1823 crore loss in FY10

NEW DELHI: State-owned integrated telecom service provider Bharat Sanchar Nigam Ltd on Saturday announced its corporate results for the financial year 2009-2010.

It reported a net loss of Rs.1823 crore against a net profit of Rs.575 crore during the corresponding quarter, said a press release.

BSNL saw its revenue fall 10 per cent to Rs.32,045 crore against Rs.35,812 crore in 2008-09, its CMD Kuldeep Goyal said.

He said the loss has mainly been due to a Rs.2,900-crore payment of wage arrears for the past three years.

"We have implemented the wage revision this year and paid arrears for the last three years and the outgo was Rs.2,900 crore," Goyal said.

BSNL, however, saw its mobile subscriber base rise to 100 million. It hopes to add 20 million new mobile subscribers in the current financial year.

Goyal said BSNL expects an increase of Rs.4,000 crore revenue this financial year, which would bring it back to profit.