Q2 of FY24: BSNL records a net loss of Rs 1,484 crore

BSNL recorded an overall net loss of Rs 2,972 crore for the first half of FY24, compared to a substantially bigger net loss of Rs 3,542 crore for the same period the previous year.

For the second quarter of FY24, Bharat Sanchar Nigam Limited (BSNL) recorded a net loss of Rs 1,484 crore. The period's net loss is nearly identical to that of the prior quarter. The state-run telecom operator lost Rs 1,488 crore in the first quarter of business. On the other hand, the net loss is actually reduced year over year, which is good news for BSNL. BSNL's net loss for the second quarter of FY23 was Rs 2,056 crore.

BSNL recorded an overall net loss of Rs 2,972 crore for the first half of FY24, compared to a substantially bigger net loss of Rs 3,542 crore for the same period the previous year. By FY27, the central government anticipates that BSNL will turn a profit. Operating earnings are already being reported by BSNL. Operating profit for BSNL surged 65% YoY to Rs 1,559 crore in FY23. With the imminent launch of 4G, BSNL is anticipated to grow both its overall revenue and market share in the cellular services sector.

The highest percentage of revenue during the quarter was generated by leased lines, cellular, and fiber-to-the-home (FTTH) services. The cellular services were, of course, the biggest source of income. Employee benefits costs were lower for BSNL in the second quarter of FY24. Between Q2 FY23 and Q2 FY24, employee benefits costs decreased from Rs 2,108 crore to Rs 1,882 crore.

In an attempt to entice customers to upgrade to the newest technology and take advantage of its soon-to-be-launched 4G services, Bharat Sanchar Nigam Limited (BSNL) announced earlier this month that consumers will be provided with additional data benefits when they transition from an outdated BSNL 2G/3G SIM to a BSNL 4G SIM. Users who upgrade their old 2G/3G SIM to 4G for free will receive 4GB of free data, good for three months, as mentioned by BSNL, Andhra Pradesh on X (earlier Twitter).

Ashwini Vaishnaw, the Minister of Information Technology and Telecom, announced that BSNL will start deploying extensive 4G infrastructure in India on Diwali (12-11-2023). Aiming to facilitate the upgrade, BSNL is encouraging its consumers to try out 4G technology by getting them to upgrade to 4G SIMs.

The Union Cabinet in June this year, approved the third revival package for Bharat Sanchar Nigam Limited (BSNL), this complete package, cost the government a total of Rs 89,047 crore, which intended to revive BSNL and establish it as a dependable telecom service provider with a particular interest and emphasis on enhancing connectivity in rural parts of India.