Financial Daily from THE HINDU group of publications
Tuesday, Dec 21, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 21, 2004 |
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Info-Tech
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Telecommunications BSNL net up 4-fold in '04 Our Bureau
New Delhi , Dec. 20 BSNL has recorded four-fold growth in net profit at Rs 5,976 crore on a turnover of Rs 32,000 crore for 2003-04. The company said that it expects to clock about Rs 6,000 crore net profit during in the current fiscal. In 2002-03, the PSU had posted revenues of Rs 28,000 crore and net profit was Rs 1,400 crore. The company, which was corporatised in the year 2000, paid a dividend of Rs 481 crore to the Government, of which Rs 281 crore is for the last fiscal and Rs 200 crore is interim dividend for the current year. Mr A.K. Sinha, CMD, said that BSNL achieved remarkable cellular growth in 2003-04 by adding 30 lakh additional connections and has connected 702 more cities during the period. "The increase in net profit was achieved due to increased revenue and expenditure reduction." BSNL has paid licence fee of Rs 3,300 crore for the current fiscal and demanded reimbursement of the same. In case it doesn't get reimbursed, its net profit will get reduced proportionately. On the issue of access deficit charge , Mr Sinha warned that the fixed line telephone charges would go up considerably in case the telecom regulator brings down the charge.
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