State-owned BSNL’s losses have narrowed to Rs 4,890 crore for the nine months ended December 31, 2016, from Rs 6,121 crore in the year-ago period.
The State-run telecom company posted a 5.8% increase in income from services at Rs 19,379.6 crore during the period under review. The figure stood at Rs 18,314.9 crore in the same period of the previous year.
The telecom company expects losses to come down for the full financial year as the fourth quarter is a seasonally strong quarter.
“Our revenue from services have risen by 5.8% and the total income is up 7%. It is a good sign,” BSNL Chairman and Managing Director Anupam Shrivastava said.
Noting that the losses are down substantially on a year-on-year basis, he said, “the overall loss for the full year is likely to be further lower, as most of the revenue comes in during the fourth quarter.”
The same was the case in 2015-16, when loss for full year tapered down due to fourth quarter performance, he added.
With other income coming in at 42% higher, the total income was pegged at Rs 20,290.5 crore for nine months ending December 2016 against Rs 18,954.4 crore in the same period of the previous year.
The telecom PSU reported a loss of Rs 7,019 crore in 2013-14 and Rs 8,234 crore in 2014-15. Its losses have less than halved to Rs 3,880 crore in 2015-16.
On the other hand, the total revenue (which includes revenue from operations and other income) rose from Rs 27,996 crore in 2013-14, to Rs 28,645 crore in 2014-15, and further to Rs 32,919 crore in 2015-16.
Communications Minister Manoj Sinha had informed Rajya Sabha in a written reply on December 9, 2016, that BSNL’s losses in the April-June quarter of FY17 stood at Rs 1,721 crore while total income was at Rs 7,331 crore.
Revenue from operations stood at Rs 7,183 crore during April-June quarter of 2016-17.
BSNL’s revenue from operation has increased from Rs 26,153 crore in 2013-14 to Rs 27,242 crore in 2014-15, and to Rs 28,449 crore in 2015-16.
(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)