New Delhi: Some respite has finally come to loss-making state-run telecom company Bharat Sanchar Nigam Limited (BSNL) as it collected the highest-ever revenue of Rs 6,500 crores from the enterprise segment. “We have collected Rs 6,500 crore from enterprise segment for 2018-19. This is highest ever that BSNL has collected with 91 enterprise making payment. On average, annual collection used to be from 50-60 enterprises,” BSNL CMD Anupam Shrivastava said.
‘Revenues have stabilised’
Shrivastava said that the company is in a comfortable position as revenues have stabilised in other segments as well. “Even in consumer and mobility segment revenue has stabilised and we have seen a slight increase in it. Worst is behind us. We are looking for revival only. In my five years, I have realised that BSNL has so much with it that this organisation should never face a problem,” Shrivastava said.
The PSU has been working on a plan to turn the loss-making company around. One of the issues plaguing BSNL’s financial health is its high revenue-to-wage ratio. To address this, the telecom service provider is looking at designing lucrative voluntary retirement schemes for employees above the age of 50. It is also looking to monetise its land assets.
“We are sitting on gold mine. Department of Public Enterprise has declared that BSNL has net worth of Rs 83,000 crore which is humongous. If we start working on asset monetisation, we will be able to resolve most of our issues,” Shrivastava said.
Despite making losses, BSNL is the only company among all telecom operators in India that has the lowest debt of Rs 14,000 crore. This is despite the fact that the PSU has been operating in the market without a 4G spectrum.
It is also the only incumbent operator that has been adding new subscribers every month over the past few months as others lose theirs.