BSNL's consolidated loss narrows to Rs 7,441 crores in 2020-21

State-run telecom firm BSNL has narrowed its consolidated loss to Rs 7,441.11 crores in the financial year ended on March 31, 2021, according to an official. The company had posted a loss of Rs 15,499.58 crores in 2019-20.

The loss has come down mainly due to reduction in employee wages on account of voluntary retirement opted by 78,569 employees.

The revenue from operations of the company declined by 1.6 per cent to Rs 18,595.12 crores in 2020-21 compared to Rs 18,906.56 crores it reported in 2019-20, the official said. BSNL's net worth has come down to Rs 51,686.8 crores during FY 2021 from Rs 59,139.82 crores in the previous year. The outstanding debt of the company increased to Rs 27,033.6 crores in FY 2020-21 from Rs 21,674.74 crores in FY 2019-20.

Source: Business Standard