STOCK MARKET BSE NSE

BSNL to Maximise Profit to Rs 500 Crore

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.

Published: 24th April 2014 06:00 AM  |   Last Updated: 24th April 2014 01:24 PM   |  A+A-

BSNL

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.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp