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From the News Desk
Tuesday, 3. October 2006
BSNL to Spend USD 4 Billion On Network Expansion
India's telecom service provider Bharat Sanchar Nigam Limited (BSNL) has plans to invest over Rs 17,000 crores to expand its network during the current financial year. The major area of expansion has been identified as the mobile phones and the company has floated a 60 million tender for GSM lines.
The company has over two crores mobile subscribers and its net switching capacity is about six crores. In the next three years, the company plans to double its net switching capacity. The company has invested Rs 8892 crores in the expansion of the Telecom network and new addition of Telephone lines during the last financial year.
BSNL has reported a 12% drop in its net profits to Rs 89.4 billion for the fiscal year 2005-06 as against Rs 101.83 billion in the previous year. The company said that adjustments in income tax payments resulted in a drop in profits. However the state-owned company registered an increase of 11.13% in revenue during the year, at Rs 401.77 billion.
Operating profit for the fiscal was Rs 82.7 billion, a growth of 23.69%. BSNL declared a dividend of Rs 11.75 billion, which is inclusive of interim dividend of Rs 3.75 billion for the fiscal year 2005-06.
This was declared at the 6th Annual General Meeting (AGM) of the company held on Tuesday, where the statement of financial result was adopted. During the fiscal, the company invested Rs 88.92 billion in the expansion of the telecom network and new addition of telephone lines.
BSNL contributed Rs 100 billion to the national exchequer by way of taxes and levies emerging as the largest service taxpayer in India. The highlight of the performance in 2005-06 was the net addition of 82 lakh lines, including 77 lakh new cellular customers and launching of broadband services in all the major towns of the country.
The company has over two crores mobile subscribers and its net switching capacity is about six crores. In the next three years, the company plans to double its net switching capacity. The company has invested Rs 8892 crores in the expansion of the Telecom network and new addition of Telephone lines during the last financial year.
BSNL has reported a 12% drop in its net profits to Rs 89.4 billion for the fiscal year 2005-06 as against Rs 101.83 billion in the previous year. The company said that adjustments in income tax payments resulted in a drop in profits. However the state-owned company registered an increase of 11.13% in revenue during the year, at Rs 401.77 billion.
Operating profit for the fiscal was Rs 82.7 billion, a growth of 23.69%. BSNL declared a dividend of Rs 11.75 billion, which is inclusive of interim dividend of Rs 3.75 billion for the fiscal year 2005-06.
This was declared at the 6th Annual General Meeting (AGM) of the company held on Tuesday, where the statement of financial result was adopted. During the fiscal, the company invested Rs 88.92 billion in the expansion of the telecom network and new addition of telephone lines.
BSNL contributed Rs 100 billion to the national exchequer by way of taxes and levies emerging as the largest service taxpayer in India. The highlight of the performance in 2005-06 was the net addition of 82 lakh lines, including 77 lakh new cellular customers and launching of broadband services in all the major towns of the country.
