BSNL reports 1st-ever loss of Rs 1,823cr

State-owned telecom firm BSNL reported a net loss of Rs 1,823 crore for 2009-10 mainly due to payment of wage arrears for the past three years, as against Rs 575 crore net profit in the previous year.



The company's total revenues also plunged by over 10 per cent during the year at Rs 32,045 crore (both from services and other income), compared to Rs 35,812 crore in 2008-09, BSNL CMD Kuldeep Goyal told reporters here.



This is the first-ever loss registered by the PSU since its inception in October 2000, when it was spun off the Department of Telecom (DoT).



The losses, however, coincided with a distinction of BSNL achieving mobile subscriber base of 100 million.



Goyal, meanwhile, is retiring today after a stint of 3-year as CMD of BSNL.



"We have implemented the wage revision this year and paid arrears for the last three years and the outgo was Rs 2,900 crore," Goyal said.

SOURCE;INDIAN EXPRESS