Fact Check: No, BSNL Didn't Go From 'Huge Profits' In 2013 To Suffering 'Major Losses' In 2024

A post on social media claims that BSNL made a profit of Rs. 10,183 crore (Indian rupees) in 2013, which turned into a loss of Rs. 13,356 crore in 2023.

Social media posts claim BSNL went from making huge profits in 2013 to incurring major losses in 2024.

Source : X/Modified by Logically Facts

The Verdict [False]

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Indian telecom company BSNL did not report profits in 2013, which later turned into major losses by 2024; it experienced net losses in both years.

What’s the claim?

A post on X (formerly Twitter) by Roshni Jaiswal, National Joint Secretary at the Indian Youth Congress, claims that Bharat Sanchar Nigam Limited (BSNL), a government-owned telecommunications provider in India, made a profit of Rs. 10,183 crore (Indian rupees) in 2013, which turned into a loss of Rs. 13,356 crore in 2023.

The viral post from July 10 includes a video of Jaiswal reiterating these statistics and prompting viewers to consider changes since 2013. This may allude to the shift from the United Progressive Alliance (UPA), in power in 2013, to the National Democratic Alliance (NDA), which has governed since 2014. An archived link to the post is available here. Similar claims have been replicated in other posts, examples of which can be found archived here and here.

Screenshots of posts that shared false statistics about BSNL recording huge profits in 2013 and a major loss in 2023. (Source: X/Modified by Logically Facts)

Our investigation, however, reveals these numbers to be false. BSNL reported overall net losses in the Financial Year (FY) 2013-14 and FY 2023-24. In India, the financial year runs from April 1 to March 31 of the following year.

What does the data show for 2013?

Assuming Jaiswal referred to FY 2013-14 as "2013," we checked the financial report uploaded on the BSNL website for that financial year. The report indicates a net loss of Rs. 7,019.76 crore for that year. The company had also incurred losses in the preceding years, contradicting claims of a profit exceeding Rs. 10,000 crore.

Screenshot of BSNL’s statement of profit and loss for the financial year 2012-13 and 2013-14. (Source: BSNL/Modified by Logically Facts) 

The same document shows that BSNL had incurred net losses of Rs. 7,884.44 crore in the financial year ending March 31, 2013.

What about the 2024 data?

Further, the data from BSNL's 2024 financial report does not align with the claim. According to this report, the company recorded a net loss of Rs. 5,367.45 crore in FY 2023-24, not over Rs. 13,000 crore as stated in the post. This information can be verified on page 46 of the report.

Screenshot of the BSNL financial report for FY 2023-2024 with loss after tax for the financial year highlighted. (Source: BSNL/Modified by Logically Facts) 

Examining the data for FY 2022-23, we found a higher net loss of Rs. 8,161.41 crore that year. This indicates a reduction in net losses for FY 2023-24.

These figures are also confirmed by news reports from both years, which cite similar numbers. These reports indicate that BSNL incurred losses of Rs. 7,020 crore in FY 2013-14 and Rs. 5,367 crore in FY 2023-24.

The verdict

The numbers cited in the social media posts do not align with the financial statements published by BSNL. The company reported net losses in both years, refuting the claim that it swung from profit to loss between 2013 and 2023.

(This report first appeared on logicallyfacts.com, and has been republished on ABP Live as part of a special arrangement. ABP Live has edited the headline and feature image of the report while republishing)