NEW DELHI, AUG 17:
The financial loss of state-run telecom firm, BSNL, touched Rs 8,851 crore during 2011—12, Parliament was informed on Friday.
The figures presented by Minister of State for Communications and IT, Milind Deora, in a written reply in Rajya Sabha shows losses by BSNL during the last three financial years starting 2009—10 when it reported loss of Rs 1,823 crore.
BSNL’s profit had started declining continuously from Rs 10,183 crore in 2004—05 before showing a loss in 2009—10.
During 2010—11, BSNL losses rose to Rs 6,384 crore mainly due to hefty outgo on employees’ salary and expenses borne by the PSU for procuring 3G and BWA spectrum.
BSNL officials had attributed widening of the losses mainly on account of payment made to the government to procure 3G and BWA licenses for which it paid a total of Rs 18,500 crore.
BSNL has proposed to surrender some spectrum and seeking refund for the same but no decision has yet been taken by Department of Telecommunications.
The total revenues of the company at the end of FY’11 were Rs 28,876 crore.
BSNL has submitted a proposal of Voluntary Retirement Scheme as part of its efforts to revive the loss—making company. The government is yet to approve it.
