New Delhi, Sep 4 : Union Minister for Communications Jyotiraditya M. Scindia on Thursday chaired the quarterly financial review meeting of key telecom Public Sector Undertakings (PSUs) -- Bharat Sanchar Nigam Limited (BSNL), Telecommunications Consultants India Limited (TCIL), and ITI Limited.

The review focused on the three critical areas of profit after tax (PAT) performance, turnover trends, and future growth projections.

All three PSUs demonstrated encouraging progress, reflecting a collective push towards sustainable expansion and deeper digital connectivity across the nation, according to an official statement issued after the meeting.

A key highlight of the meeting was the financial turnaround of BSNL, which has posted profits for two consecutive quarters -- a milestone achieved after nearly 18 years.

BSNL recorded a profit of Rs 262 crore in Q3 and Rs 280 crore in Q4 of FY 2024-25, a sharp improvement from a loss of Rs 849 crore in Q4 of the previous fiscal year. This recovery has led to a nearly 58 per cent reduction in the company's annual losses, bringing them down to Rs 2,247 crore.

The financial review builds on the momentum of last month's Chief General Managers (CGMs) Review Meeting held in Delhi, where CGMs from all 32 telecom circles presented their roadmaps for growth, enhanced customer service, and operational efficiency.

Thursday's meeting assessed how those strategies are translating into real financial outcomes at the national level.

Scindia commended BSNL's performance, stating that the turnaround is a clear indication of the government's commitment to strengthening public sector undertakings and empowering them to drive India's telecom revolution.

In the case of TCIL, the revenue in FY 2024-25 has grown by 17 per cent and profit more than doubled over FY 2023-24. ITI has posted a revenue of Rs 4,323 crore for FY 2024-25 with a growth of more than two-fold growth over FY 2023-24 and also achieved positive EBITDA in FY 2024-25.

The Minister urged BSNL, TCIL, and ITI to continue their focus on innovation, service delivery, and sustainable business practices.

He reiterated the government's unwavering support for realising Prime Minister Narendra Modi vision of a resilient, self-reliant telecom sector that ensures connectivity in every corner of the country.

/IANS