BSNL posts $393 mln loss in FY10

Telecoms firm Bharat Sanchar Nigam Ltd posted net loss of 18.23 billion rupees ($393 million) for fiscal year 200910, the company said.      

The loss was due to reduced revenues on reduction in tariffs and higher expenditure due to wage revisions, the company said late on Saturday.  

Revenues in 200910 at 320.45 billion rupees was 10.4 percent lower compared to the previous financial year, it said.                                           

Wage revisions and outgo of arrears resulted in an additional expense of 29 billion rupees, it added.