BSNL Registers a Turnover of Rs. 24,299.8 Crore in FY 2001-02

The turnover of the BSNL registers Rs. 24299.8 Crores in
the financial year 2001-2002, which on an annualized basis implies a 5% growth
over the previous year. According to BSNL release, this growth has taken place
inspite of 62% reduction in long distance tariff during the last quarter of the
year. The profit after tax has been at a level of Rs. 6312 Crores. In terms of
extension of coverage the percentage growth of lines (53 lacs) has been the
highest ever in the history of telecommunication in this country.

The release said that the company had a remarkable growth
which has been financed solely through the internal resources of the company
without having to resort to any market borrowing. After making adequate
provisioning for higher wage bill for absorbed employees of erstwhile Department
of Telecom Services the percentage of wage bill to turnover is still at a
manageable level of 15.84%, the release said. The net block of assets have
attained a figure of Rs. 58922 Crores.

The capital outlay for expansion and development in the
area of Rural Telephony has been put at Rs. 7946 Crores which is approx. 50% of
total capital expenditure of the company during 2001-02.

The debt equity ratio has also improved from 0.25 last year
to 0.20. The strong fundamentals of the company will enable it to grow from
strength to strength. The Company has future plans to expand further in value
added services by introducing new technologies. The company launched CellOne,
the biggest Cellular Service in the country covering the length & breath of
India.