BSNL’s Losses Widen to Rs 8,161 Crore in FY23: Report

State-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) has reported a significant increase in consolidated losses for the fiscal year 2022-23. The losses have widened to Rs 8,161 crore compared to Rs 6,982 crore in the previous year. This surge in losses can be attributed to the provision made for adjusted gross revenue (AGR) dues to the government, according to a Financial Express report.

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During the year, BSNL made a provision of Rs 17,688 crore towards AGR dues and received viability gap funding worth Rs 16,189 crore. Consequently, the company recorded an exceptional loss of Rs 1,499 crore, contributing to the overall increase in net losses.

BSNL’s total expenses also saw a rise of 5.1 percent to Rs 27,364 crore. Notably, the employee cost, which includes salaries, wages, allowances, and other benefits, amounted to Rs 7,952 crore, reflecting an 11 percent increase from the previous fiscal year.

On the positive side, BSNL managed to surpass the revenue target set by the government and achieved a 14 percent growth in revenue from operations. In FY23, the company’s revenue from operations amounted to Rs 19,130 crore, compared to Rs 16,811 crore in FY22, as indicated by the company’s financial statements, according to the report.

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The growth in revenue was primarily driven by the success of BSNL’s fiber-to-the-home (FTTH), leased line businesses, and other operating income. Mobile services, which contribute 29 percent to BSNL’s revenue, witnessed a 7 percent year-on-year increase at Rs 5,638 crore in FY23. The revenue from the FTTH business also showed substantial growth, reaching Rs 2,071 crore, a 30 percent increase.