BSNL borrowed Rs.1,320.47 crore for capital expenditureApril 25th, 2012 - 11:44 pm ICT by IANS
New Delhi, April 25 (IANS) State-run Bharat Sanchar Nigam Ltd (BSNL) borrowed Rs.1,320.47 crore ($25 million) from the market for capital expenditure in 2010-11, Minister of State for Communications and IT Milind Deora said Wednesday.
“BSNL has fully met its operational expenses through internal accruals during the financial year 2011-12. However, for capex authorisation market borrowings were partially resorted to which stood at Rs.1,320.47 crore as on March 31, 2012,” Deora said in a written reply in the Lok Sabha.
According to Deora, the main reasons for the financial crisis in BSNL were large work force whose salary and wages were around 50 percent of the revenue. “The expenditure on this account has increased due to implementation of the wage revisions,” Deora said.
The firm had a loss of Rs.5,997 crore in 2010-11 as against Rs.1,823 crore in 2009-10.
- State-run telecom operators turn red - Aug 17, 2011
- BSNL to lease infrastructure, data services to improve business - Dec 03, 2011
- Private telcos owe BSNL Rs.550.88 crore - May 02, 2012
- BSNL submits proposal on voluntary retirement to DoT - Nov 30, 2011
- Himachal's fiscal liabilities up 46 percent: CAG - Apr 06, 2012
- BSNL not involved in 2G scam: Minister - Sep 07, 2011
- MTNL, BSNL merger proposal being examined - Aug 11, 2011
- Murugappa group plans Rs.1,000 capex in 2012-13 - May 10, 2012
- BSNL to be turned around in six months: Sibal - May 27, 2011
- Over 20,300 cases of SIM cloning reported so far: Deora - Aug 22, 2012
- Rs.5,434.5 crore FDI in telecom sector - Aug 24, 2011
- MRF Ltd mulls overseas acquisitions - Oct 10, 2011
- Airtel pays Rs.1,177.5 crore licence, spectrum charges - Aug 24, 2011
- Bharti Airtel quarterly net income down 28 percent (Lead) - May 02, 2012
- Ashok Leyland to invest Rs.1,000 crore on operations - May 20, 2011
Tags: , , , , , , , , , , , , , , ,