Tag: BSNL

Categories
Business India News

BSNL Awards Globesecure Rs 80 Cr FTTH Contract

The company’s net profit increased from Rs 1 crore to Rs 1.67 crore. Globesecure Technologies was listed on the SME platform of NSE in May 2022, when the company raised Rs 10.13 crores by selling its shares for Rs 29 per equity share with a face value of Rs 10 each…reports Asian Lite News

Globesecure Technologies Limited, a NSE SME listed firm into cyber security solutions, has received work order from Bharat Sanchar Nigam Limited (BSNL) for providing last mile FTTH connections in service ready GPs for three years.

The total work order as per agreement signed on November 23 is for 7,900 GPs which is worth Rs 80 crores approximately, out of which work order for 576 GPs has been received. The order comes as a huge boost for the cyber security firm.

Recently Globesecure Technologies has entered into a substantial Rs 5 crore contract, marking a significant stride in their mission to bolster cybersecurity measures for large corporations. This endeavour takes shape through a strategic partnership with Rural Infratel International Limited, a well-established entity in the telecommunications and infrastructure sector.

The company’s net profit increased from Rs 1 crore to Rs 1.67 crore. Globesecure Technologies was listed on the SME platform of NSE in May 2022, when the company raised Rs 10.13 crores by selling its shares for Rs 29 per equity share with a face value of Rs 10 each.

Globesecure is a Cyber Security Partner, specialising in assessing, designing, deploying, and sustaining the security posture of large enterprises for their data and information. The company is planning to develop integration software for automation, orchestration, and AI-based products to cater to the health sector and quant financial sector where there is a scope for data analytics and machine learning. Headquartered in Mumbai, Globesecure Technologies Ltd was incorporated in 2016.

ALSO READ-Nifty Midcap and Smallcap Indices Carry 25% Premium

Categories
Business

BSNL’s total net loss Rs 57,671 crore since inception

The Ministry informed that BSNL and MTNL have been playing a crucial role along with private telecom players in the development of the telecom infrastructure and expansion of telecom services…reports Asian Lite News

Since inception, the total net loss of BSNL is Rs 57,671 crore while that of MTNL is Rs 14,989 crore as on March 31, 2022, the Parliament was told on Friday.

As per the Ministry of Communication, the reasons for losses of the BSNL and the MTNL are high employee cost over the years, debt burden, stiff competition in the market, and lack of 4G services (except on a limited basis in certain areas).

On October 23, 2019, the government approved the revival plan for BSNL and MTNL. It inter-alia approved the reduction in employee costs through Voluntary Retirement Scheme (VRS), debt restructuring by raising of sovereign guarantee bonds, administrative allotment of spectrum for 4G services through capital infusion, monetisation of core and non-core assets, and in-principle approval of merger of BSNL and MTNL, the Rajya Sabha was told in a written reply.

As a result of these, BSNL and MTNL have become EBITDA (Earnings Before Interest, Taxes, Depreciation, and amortization) positive since the financial year 2020-21.

Further, to transform BSNL into a viable public sector undertaking, the government approved a revival package for BSNL amounting to Rs 1.64 lakhs crore on July 27, 2022. The revival measures focus on infusing fresh capital for upgrading BSNL services, allocating spectrum, de-stressing its balance sheet and augmenting its fibre network by merging Bharat Broadband Nigam Ltd (BBNL) with BSNL. With the implementation of these measures, BSNL is expected to turn-around and become a profit earning entity, said the Ministry.

The Ministry informed that BSNL and MTNL have been playing a crucial role along with private telecom players in the development of the telecom infrastructure and expansion of telecom services. BSNL and MTNL are important for implementing citizen centric schemes of the Government of India especially in the rural and remote un-covered areas. BSNL has provided 24,58,827 FTTH connections as on September 30, 2022. Further, in line with the Atma-nirbhar initiative of the Government, BSNL was directed to deploy the Indian 4G stack. BSNL has floated the tender in October 2022 for its requirement of 1 lakh 4G sites, it added.

ALSO READ: 3 members of Twitter’s Trust and Safety Council quit

Categories
India News

Govt has no plans for divestment of BSNL

“There is no plan under consideration for disinvestment of BSNL,” he told the Lok Sabha in a written reply….reports Asian Lite News

The Centre has no plans for disinvestment of state-owned telecom player BSNL, Minister of State for Communications Devusinh Chauhan informed the Parliament on Wednesday.

“There is no plan under consideration for disinvestment of BSNL,” he told the Lok Sabha in a written reply.

In 2019, the Centre had approved a revival plan for BSNL which included measures to reduce the staff cost through a ‘Voluntary Retirement Scheme’ (VRS) for employees of age 50 years and above.

The plan also included administrative allotment of spectrum for providing 4G services with funding through budgetary allocation, monetisation of non-core and core assets to generate resources to retire debt and meeting capex and other requirements along with debt restructuring by raising of Sovereign Guarantee Bonds.

Chauhan, in his response to another question, said: “As a result of these measures, BSNL has become EBITDA positive (operating profit) in 2020-21.”

To a question regarding the impact of the VRS scheme on services provided by BSNL, he said: “There is no delay or deficiency in services provided by BSNL due to implementation of VRS.

“Current strength of employees is sufficient for operation of BSNL.”

The telecom player had a domestic market share of 9.90 per cent for mobile subscribers and 15.40 per cent for wired broadband subscribers as on December 31, 2021.

Earlier, BSNL Employees Union had appealed to Prime Minister Narendra Modi to “drop proposal to merge MTNL with BSNL”.

The employees union of Bharat Sanchar Nigam Limited (BSNL) also suggested the government to take over Mahanagar Telephone Nigam Limited’s (MTNL) Rs 26,000 crore debt and provide financial assistance to BSNL.

“We wish to express our serious concern regarding the merger of BSNL and MTNL. The BSNL employees are genuinely concerned that, the merger of MTNL with BSNL will certainly ruin the financial condition of the latter. Due to this reason, right from the beginning, the employees of BSNL have been firmly opposing the merger of BSNL and MTNL,” the union said in a letter to the Prime Minister.

The union quoted a senior BSNL official as saying that “MTNL is in the ICU and any day it can be declared dead” and “a catastrophe is waiting to happen in MTNL”.

“We fervently appeal to you to kindly drop the proposal to merge MTNL with BSNL. Alternatively, the government should take over MTNL’s debt of Rs 26,000 crore. In addition to this, the government should also provide sufficient financial assistance to BSNL, for the rehabilitation of the networks of MTNL. This demand is being raised because, both the mobile as well as landline networks of MTNL are in a dilapidated condition. Hence, we earnestly urge upon you to kindly look into this issue and to kindly take appropriate action to safeguard the interests of BSNL,” the union said.

ALSO READ: India-UAE CEPA to become operational in a month