Home >Companies >Company Results >BSNL halves loss to 7441 cr in FY21, revenue dips to 18,595 cr

Bharat Sanchar Nigam Limited (BSNL) posted a consolidated loss of 7441.11 crore for the financial year 2020-21, significantly lower than the 15,499.58 crore loss the state-run telco had registered in the previous fiscal.

Revenue for the fiscal under review slipped to 18,595.12 crore, as opposed to 18,906.56 crore seen in the FY20. The decline in total revenue came on the back of dip in revenue from operations, which slid to 1,7452.11 crore in FY21 from 17,886.09 crore in FY20.

Total expenses also came down during FY21 to 26,036.23 crore from 34,406.14 crore, as license and spectrum fees, employee benefits expenses and finance costs decline during the fiscal. The decline in employee costs helped the company to reduce losses in FY21.

Notably, BSNL had offered voluntary retirement scheme to its employees in order to cut down on its wage bill. A total of 78,569 employees had opted for voluntary retirement, reducing the company's wage bill and helping to bridge the massive loss seen in FY20.

BSNL's net worth has come down to 51,686.8 crore during FY21 from 59,139.82 crore in the previous year. The outstanding debt of the company stood at 27,033.6 crore in FY21, up from 21,674.74 crore in FY20.

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