BackBSNL operating profit to be over Rs2,000 crore: Ravi Shankar Prasad
Ravi Shankar Prasad says final audited results of BSNL will be declared by August-end, and the state-run telco will post threefold jump in profit
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New Delhi: State-run Bharat Sanchar Nigam Ltd (BSNL) will post over threefold jump in its operating profit at ₹ 2,000 crore for fiscal 2016, telecom minister Ravi Shankar Prasad said on Tuesday.
“BSNL was in heavy loss. We brought it in operating profit of ₹ 672 crore in first year (of coming to power). Audit is on. By end of August when final audited result will be declared then BSNL will strike an operating profit of over ₹ 2,000 this year," Prasad told reporters after a cabinet meeting.
BSNL is in the process of preparing its financial result for fiscal 2016. Before this, the state-run firm had posted an operating profit of ₹ 916 crore in 2012-13. The company registered a total income of ₹ 28,645 crore and net loss stood at ₹ 8,234 crore in 2014-15.
Prasad said the cabinet has approved the revision of pension of BSNL pensioners who retired before 10 June 2013 resulting in about 9% increase in payout for 1,88,500 employees.
The revision of pension allows BSNL pensioners and family pensioners “benefit of merger of 50% DA/DR with basic pay/pension, effectively amounting to 78.2% DA/DR for the purpose of fitment".
BSNL employees were earlier given a salary and 68.8% dearness allowance. Later, the government decided to merge 50% of DA in their salary and 18.8% was calculated on resultant salary.
This leads to 9.4% higher payout for employees but pensioners who retired between 2007 and 2013 were left out. This revision will fulfil the long pending demand of revision of pension of BSNL absorbed employees who retired before 10 June 2013, and will bring pensioners at par with serving employees of BSNL by removing the anomalies.
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