Telecom Players' Total Debt Hits Rs 4.09 Lakh Crore In FY24
Vodafone Idea registered a debt of Rs 2.07 lakh crore, Bharti Airtel Rs 1.25 lakh crore and Reliance Jio Infocomm Rs 52,740 crore as of March 31, 2024.
The total debt on four major telecom operators in the country stood at Rs 4,09,905 crore in the financial year 2024, with state-owned BSNL recording the lowest debt among competitors at Rs 23,297 crore, Parliament was informed on Wednesday.
According to data shared by Minister of State for Communications Pemmasani Chandra Sekhar in a written reply to the Lok Sabha, Vodafone Idea Ltd. registered a debt of Rs 2.07 lakh crore, Bharti Airtel Ltd. Rs 1.25 lakh crore and Reliance Jio Infocomm Ltd. Rs 52,740 crore as of March 31, 2024.
BSNL had a debt of Rs 40,400 crore in fiscal 2022, which was reduced to Rs 28,092 crore with the help of a revival package and financial support from the government.
"In 2019, the first revival package amounting to around Rs 69 thousand crores was given that brought down the operating costs of BSNL/MTNL. In 2022, a revival package amounting to around Rs 1.64 Lakh crore was given. It focused on infusing fresh capital, restructuring debt, viability gap funding for rural telephony etc,' Sekhar said.
The minister also said that the government approved the allotment of 4G/5G spectrum to BSNL with a total outlay of around Rs 89,000 crore.
"As a result of these packages, BSNL has started earning operating profits from FY 2020-21," Sekhar said.
