BSNL operating profit will jump three-fold to Rs. 2000 crore: Ravi Shankar Prasad

Bhartiya Sanchar Nigam Ltd (BSNL) is projecting a three-fold jump in its operating profit at Rs. 2,000 crore for the financial year of 2015-16. The company is in the process of preparing its financial result for 2015-16 and had earlier posted an operating profit of Rs. 916 crore in 2012-13.

Telecom Minister, Ravi Shankar Prasad also commented on this estimate and said “BSNL was in heavy loss. We brought it in operating profit of Rs. 672 crore in its first year of coming to power. Once the audited result is out by the end of August, BSNL will have an operating profit of over Rs. 2,000 crore for this year”.

In 2014-15, the company earned around Rs. 28,645 crore and suffered a net loss of Rs. 8,234 crore. The Telecom Minister also informed about the revision in pension of BSNL pensioners who retired before 10th June 2013. The revision brings about 9 percent increase in payout for 188,500 employees.

BSNL employees were given a dearness allowance of 68.8 percent (on salary) and later the Government decided to merge 50 percent of D.A. in their salary. This meant a 9.4 percent hike in terms of payout but the pensioners who retired between the years of 2007-13 were left out.
There has been a long pending demand regarding the revision of pension of BSNL employees, and this revision intends to bring the pensioners at par with the serving employees.

BSNL pensioners and family pensioners stand to receive the arrears from June 10th, 2013. For the company, this puts the recurring annual expenditure of approx. Rs. 129.63 crore for pensioners and Rs. 24.93 crore for family pensioners. In addition, the arrears from 2013-14 would amount to Rs. 239.92 crore for pensioners and family pensioners will collectively receive Rs. 44.62 crore.