Overview: The improvement in financial performance of BSNL is a reflection of the sustained management and Government efforts by way of improving it’s top line by increased business growth in its verticals and managing it’s bottom line costs in an efficient manner in line with accounting standards. This is a sustained trend across all recent quarters and is to be understood through a business lens and not an accounting one. The data below provides the growth story of BSNL across three quarters from a business perspective. We are confident that the growth trajectory will continue to grow in the next quarter and in times to come by serving our customers through affordable and quality telecom connectivity.

Revenue from Operations:

• Quarter Ended 31.12.2024: Revenue stood at ₹4,969 crore, showing an increase compared to ₹ 4546 crore in the same quarter of the previous year (31.12.2023).

The Revenue from new areas of operation in Mobility, FTTH, and Leased Lines has increased by 15%, 18%, and 14% respectively over Q3 of the previous year. This is a real growth in business.

- 9 Months Ended 31.12.2024:  Revenue reached ₹14,197 crore, up from ₹12,905 crore in the corresponding period of the previous year (31.12.2023).

In the last quarter of 2024-25, the same trend will continue.

Other Income:

• For the 9 months ended 31.12.2024, the other income was ₹1,406 crore, slightly lower than ₹1,528 crore in the same period of the previous year (31.12.2023).
• Quarter Ended 31.12.2024: Other Income stood at ₹706 crore, showing an increase compared to ₹511 crore in the same quarter of the previous year (31.12.2023).

Total Income:

- Total income for the quarter ended 31.12.2024 was ₹5,675 crore, compared to ₹5057 crore in the same quarter of the previous year (31.12.2023).

- For the 9 months ended 31.12.2024, total income was ₹15,603 crore, up from ₹14,433 crore in the previous year 9 Months period (31.12.2023).

The costs have reduced to ensure the profitability.

Expenditure:

- Network Operating Expense: Decreased to ₹1,336 crore in the quarter ended 31.12.2024 from ₹ 1397   crore in the same quarter of the previous year (31.12.2023).

- Employee Benefits Expense: Reduced to ₹1,735 crore in the quarter ended 31.12.2024 from ₹ 2011 crore in the previous year.  (31.12.2023).

• Total Expenditure (excluding Dep/Fin Cost) For the quarter ended 31.12.2024, total expenditure was ₹4210 crore, lower than ₹4741 crore in the same quarter of the previous year (31.12.2023).

- Finance Costs: Some decrease in finance costs at ₹389 crore for the quarter ended 31.12.2024.(when compared to ₹442 in QE 31.12.2023)

• Depreciation & Amortisation Costs(DAC): For the quarter ended 31.12.2024, total DAC was ₹814 crore, lower than ₹1443 crore in the same quarter of the previous year (31.12.2023). We have accelerated the 4G rollout and fiber-optic infrastructure upgrades, ensuring better connectivity and service quality. BSNL is making significant investments in 4G/5G equipment and spectrum to provide high-quality services to its customers. To align with these new investment requirements and the evolving market scenario, appropriate accounting procedures have been adopted; while the depreciation was also lower this quarter.

EBITDA:

- EBITDA for the quarter ended 31.12.2024 improved to ₹1,466 crore from ₹316 crore in the same quarter of the previous year (31.12.2023)

- For the 9 months ended 31.12.2024, EBITDA was ₹2,369 crore, up from ₹893 crore in the previous year (31.12.2023).

The bottom line performance reflects the growth in top line and reduction in costs sustainably.

Profit/(Loss):

- The company reported a profit before tax of ₹262 crore for the quarter ended 31.12.2024, a significant improvement from a loss of ₹1569 crore in the same quarter of the previous year  (31.12.2023)

- For the 9 months ended 31.12.2024, the loss before tax reduced to ₹2,527 crore from ₹4,522 crore in the previous year.

In addition, 20 Circles have turned EBITDA positive this Q3 2024; when compared to 12 Circles last December Quarter.

In summary, BSNL, has shown resilience with increased revenue and improved EBITDA margins. Strategic cost management and operational efficiencies have significantly improved the bottom line. BSNL has been actively optimizing operational costs and has successfully reduced finance costs and overall expenditure.

BSNL’s accounting policies are in line with CPSE standards, and the results indicate revenue growth from new initiatives within the company. We have successfully reversed the trend of financial deterioration, and the last three quarters have shown continuous improvement in our financial performance, leading to a sharp reduction in net loss.

While we continue our efforts to increase revenues, optimize costs, and strengthen financial controls, which are crucial for BSNL’s long-term sustainability, we have successfully reduced the net loss from ₹4,522 crore to ₹2,527 crore for the nine-month period ending 31.12.2024, compared to the same period ending 31.12.2023. This reflects our commitment to financial discipline and operational efficiency as we move forward on our growth trajectory.

For the next quarter, our focus remains on:
Accelerating 4G/5G rollouts to enhance service quality and network reach.
 Expanding enterprise solutions to tap into new revenue streams.

Monetizing digital assets to unlock value from BSNL’s infrastructure.

Optimizing operational expenditures through strategic cost-saving measures.

With these strategic initiatives and sustained financial discipline, we are confident that BSNL is on the path toward profitability in the ensuing years, reinforcing its position as a competitive and resilient telecom provider driving India's digital transformation.

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Samrat/Allen

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