BSNL Rings in Rs 672 Crore Profit
The fortunes of state-owned telecom company BSNL is witnessing signs of revival as it reported an operating profit of Rs672 crore for the financial year 2015 on the back of fall in administrative costs and jump in revenues. The company had posted an operating loss of Rs691 crore in the previous fiscal. “BSNL had bad results for the last few years, but in year 2014-15, it has been able to reverse the trend,” Anupam Shrivastava, Chairman and Managing Director of BSNL said. BSNL has also set aside Rs7,700 crore as capital expenditure in 2015-16 and will spend this on Next Generation Network (NGN), mobile phase 7 expansion, Wi-Fi, among others, Shrivastava added. The capital expenditure last year was Rs3,300 crore.