The Second Annual General Meeting of BSNL was held today to consider
the accounts, balance sheet and reports of the Board of Directors and
Auditors and finally pass the accounts of the company for the year
2001-2002, being the 2nd year of operation of the company since its
inception on 15.09.2000.
The
turnover of the company has been Rs. 24299.8 Crores, which on an
annualized basis implies a 5% growth over the previous year. This
growth has taken place inspite of 62% reduction in long distance
tariff during the last quarter of the year. The profit after tax has
been at a comfortable level of Rs. 6312 Crores. In terms of extension
of coverage the percentage growth of lines (53 lacs) has been the
highest ever in the history of telecommunication in this country.
Another remarkable achievement has been that this phenomenal growth
has been financed solely through the internal resources of the company
without having to resort to any market borrowing. After making
adequate provisioning for higher wage bill for absorbed employees of
erstwhile Department of Telecom Services the percentage of wage bill
to turnover is still at a manageable level of 15.84%. The net block of
assets have attained a figure of Rs. 58922 Crores.
The
capital outlay for expansion and development in the area of Rural
Telephony has been to the tune of (Rs. 7946 Crores) which is approx.
50% of total capital expenditure of the company during 2001-02.
The debt
equity ratio has also improved from 0.25 last year to 0.20. The strong
fundamentals of the company will enable it to grow from strength to
strength. The Company has future plans to expand further in value
added services by introducing new technologies. The company has
launched CellOne, the biggest Cellular Service in the country covering
the length & breath of India.
Click here to see
