BSNL Q3 profit at Rs 262 cr, first profit since 2007
Scindia says return to profitability a turning point for telco
New Delhi: BSNL Limited has posted a net profit of Rs 262 crore for December quarter, marking its return to profitability after almost 17 years, Union Minister Jyotiraditya Scindia said on Friday terming it a "significant turning point" for the state-owned telco that has been focused on expansion of service offerings and subscriber base.
BSNL scripted an improvement on several counts, clinching 14-18 percent growth across mobility, FTTH and leased line service offering, Scindia, Minister for Communications said adding that the subscriber base too has risen to about 9 crore in December, from 8.4 crore in June.
"Today is an important day for BSNL, and for the journey of the telecom sector in India...BSNL has, in third quarter of FY2024-25, for the first time in 17 years, posted a profit on a quarterly basis. The last time that BSNL posted a quarterly profit was in the year 2007," he said on BSNL's earnings.
The net profit came in at about Rs 262 crore in the third quarter of the financial year. Mobility services revenue grew by 15 percent, Fiber-to-the-Home (FTTH) revenue increased by 18 percent and leased line services revenue rose by 14 percent over Q3 of the previous year.
The Q3 scorecard underlined the telco's focus on innovation, network expansion, cost optimisation, and customer-centric service improvements.
Additionally, BSNL has cut its finance cost and overall expenditure, leading to a decline in losses by over Rs 1,800 crore compared to last year.
With a view to enhancing customer experience, BSNL has introduced offerings such as National WiFi Roaming, BiTV – Free Entertainment for All Mobile Customers, and IFTV for All FTTH Customers, and first private 5G connectivity for mining.
"We certainly hope that this year will not just see an increase in revenues at the end of fourth quarter for the full financial year, but will also (see BSNL) keep expenditure and costs under control and significantly reduce losses from the figures of last year," the minister said.
In the last four years, BSNL's EBITDA doubled from Rs 1,100 crore to almost Rs 2,100 crore as of FY23-24.
"...And this quarter's return to profitability is a significant turning point for BSNL as it now embarks on providing 4G services to all its subscribers across the length and breadth of the country. Out of 100,000 towers, almost 75,000 have been installed, close to about 60,000 have been commissioned. And we hope that by June of this year all 100,000 towers will be operational," Scindia said.
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KSCA expresses disappointment over missing IPL playoffs, says it was ready to host matches in B’luru
Bengaluru: The Karnataka State Cricket Association (KSCA) has issued a clarification stating that it was fully prepared to host the IPL playoffs and final matches in Bengaluru but the fixtures were allotted to other venues.
In a media note, KSCA said it was disappointed with the decision. The association stated that its president, former India cricketer Venkatesh Prasad, had been in touch with the Board of Control for Cricket in India (BCCI) and had formally conveyed the association’s readiness and interest in hosting the matches at the M. Chinnaswamy Stadium.
KSCA said the IPL matches held in Bengaluru this season were appreciated for smooth conduct, crowd management and overall experience for spectators. It said this reflected its ability to handle high-profile matches.
The association also stated that it had sent a detailed communication to the BCCI explaining its preparedness and the operational arrangements followed during the current IPL season. According to KSCA, these systems have been in place since the start of the Indian Premier League in 2008 and were followed consistently, including during previous playoff matches hosted in Bengaluru.
The clarification added that the communication sent to the BCCI was only meant to provide factual and operational details and to bring clarity on logistical and stakeholder-related requirements involved in hosting such matches.
KSCA said that although it had shown willingness and preparedness, the BCCI has decided to allocate the playoff matches to other venues. It added that the reasons for this decision have not been formally shared with the association, but it respects the authority of the board in taking such decisions.
The association further said it remains ready to host matches of national and international importance and will continue to cooperate with the BCCI, franchises, government authorities and other stakeholders for conducting cricket events.
The statement was issued by KSCA official spokesperson Vinay Mruthyunjaya, who also thanked the media and cricket fans for their continued support.
