BSNL Reports Losses of Rs 4,785 Crore in FY18; Telecom Minister Rejects Merger With MTNL

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BSNL Reports Losses of Rs 4,785 Crore in FY18; Telecom Minister Rejects Merger With MTNL

Bharat Sanchar Nigam Limited (BSNL) has narrowed its losses to Rs 4,785 crore during FY18, even as its income declined to Rs 27,818 crore as against the previous fiscal. Telecom Minister, Manoj Sinha informed this news to Parliament today. BSNL posted a loss of Rs 4,859 crore in 2015-16, Rs 4,786 crore in 2016-17 and Rs 4,785 crore (provisional and unaudited) in 2017-18, Telecom Minister Manoj Sinha said in a written reply to the Lok Sabha. Furthermore, BSNL’s income stood at Rs 32,411 crore (FY16), Rs 31,533 crore (FY17) and Rs 27,818 crore in FY18 (provisional and unaudited), Sinha added.

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BSNL-Losses

Since BSNL has incurred losses consecutively for the last three years, it has been declared as ‘Incipient Sick’ as per the guidelines of Department of Public Enterprises (DPE), the minister said. This news was reported by Press Trust of India (PTI).