Bharat Sanchar Nigam Limited (BSNL) Kerala circle is anticipating a near doubling of its profit in the financial year 2013-14.
Compared to last fiscal profit of Rs 287 crore, this year the state-owned company will post a profit in the range of Rs 400 and Rs 500 crore.
An announcement on this is likely to be made on Thursday. In a letter to the employees, M Somasundara Rao, chief general manager of BSNL, expressed his happiness over the performance, and said that the unaudited profit would be in the region of Rs 400 and Rs 500 crores.
A 1978 batch Indian Telecom Service (ITS) officer, Rao assumed the role of CGM of Kerala Circle, one of the few profitable circles in the country, in December 2012. He had brought about many technological and administrative changes to the company, said an official in BSNL.
The company, which was once the monopoly of the telecommunication, is fast losing its customer base to competitors in the private industry.
Rao initiated Chief General Manager’s special award for best executive in an attempt to boost the morale of the entire circle. Among the five awards, which include mobile phone, landline and cable maintenance, the customer retention category has also been accorded high priority.
The performance of the BSNL (for the whole country) is yet to be out. However, it registered a loss of Rs 7884 crore last year.
A 2013 presentation by the company to a group of ministers looking to revive the company which has seen a steady erosion of its net worth since 2010, is unlikely to report a profit until at least 2018.