Battling losses and loans, one state-owned telco pulls ahead of another

BSNL and MTNL have needed state support but their financial trajectories are now diverging

The Department of Telecommunications recently approached the Finance Ministry once again to seek funds to help repay the mounting debt of MTNL, which provides telecom services in Delhi and Mumbai. BSNL, which provides services in the rest of the country, has needed help as well, marking the two state-owned telecom companies’ financial distress.

 

From FY15 to FY25, BSNL reported cumulative net losses of Rs 85,001 crore. MTNL’s losses were Rs 31,814 crore (as of December 2024). However, there is a contrast in the companies’ recent financial trajectories. BSNL, short for Bharat Sanchar Nigam Limited, is turning around: it reported net