business

BSNL losses mounts close to Rs 12000 crore

The financial crisis of the country’s telecom company Bharat Sanchar Nigam Limited (BSNL) is increasing. BSNL may have a loss of up to Rs 12,000 crore in the financial year 2018-19. On April 16, the matter of the annual results will be discussed in the meeting the Board of BSNL. There is also the possibility of talking about other investment plans in this meeting.

According to a report by News Agency IANS, BSNL’s loss is continuously increasing and it could be up to Rs 12,000 crore in the last financial year 2018-19. According to agency sources, if the earnings from the government projects are added, the deficit could be marginally reduced.The company had made profits for the last time in FY 2008, since then the company has a cumulative loss of Rs 82,000 crore from 2009 to 2018.

It has been said in the report that BSNL has been in deficit for the past 13 years, but is not giving its figures of losses. Financial and telecommunications experts do not get reliable information from the management to analyze the situation of the company. On this, BSNL says that it is a non-listed company, so there is no mandatory clause to make the data public.

This data came out when Telecom Minister Manoj Sinha told Parliament last year. He told that the annual loss of BSNL has gone up to Rs 7,992 crore in the financial year 2017-18. Before that, the company’s deficit in the year 2016-17 is Rs 4,786 crore. Analysts say that after the issue of salary in BSNL in February, many questions arose in their mind about the real financial situation of the company.

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