Financial
Times
FIXED LINES WEIGH HEAVILY ON BSNL
BSNL, India’s largest fixed-line operator suffered a net loss of USD395 million for the fiscal year 2009/2010 due to a decline in revenues and higher wage expenditure. Revenue was down 10 percent. In the coming year, the company forecasts a return to profit. BSNL’s poor performance highlights the difficulties faced by state-owned companies that are failing to make money when the Indian economy is growing at 8.5 percent, writes FT.
FIXED LINES WEIGH HEAVILY ON BSNL
BSNL, India’s largest fixed-line operator suffered a net loss of USD395 million for the fiscal year 2009/2010 due to a decline in revenues and higher wage expenditure. Revenue was down 10 percent. In the coming year, the company forecasts a return to profit. BSNL’s poor performance highlights the difficulties faced by state-owned companies that are failing to make money when the Indian economy is growing at 8.5 percent, writes FT.
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