BSNL's Financial Turnaround: EBITDA Surges, Losses Narrow in FY24

State-owned Bharat Sanchar Nigam Ltd (BSNL) reported a significant rise in EBITDA to Rs 2,164 crore for FY24 and a narrowed loss of Rs 5,371 crore. Minister of State for Communications P. Chandra Sekhar highlighted the positive impact of government measures and the commitment to the Atmanirbhar Bharat initiative in enhancing indigenous 4G technology.

State-owned Bharat Sanchar Nigam Ltd (BSNL) has reported a notable increase in its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) to Rs 2,164 crore for FY24, with losses narrowing to Rs 5,371 crore, according to information presented to Parliament on Wednesday.

Minister of State for Communications Pemmasani Chandra Sekhar noted that government intervention through various packages has enabled BSNL/MTNL to start generating operating profits since FY 2020-21. This aligns with the Atmanirbhar Bharat initiative, resulting in a purchase order for 1 lakh 4G sites to deploy indigenous 4G technology, upgradable to 5G.

Responding to concerns about data breaches, Sekhar confirmed that an intrusion occurred on May 20, 2024, but reassured that no outage was reported. The government has taken several steps for BSNL and MTNL's revival, including substantial revival packages in 2019 and 2022, and the allotment of 4G/5G spectrum in 2023 with a total outlay of Rs 89,000 crore.

(With inputs from agencies.)