State-run telecom firm BSNL has narrowed its consolidated loss to Rs 7,441.11 crore in the financial year ended on March 31, 2021, according to an official. The company had posted a loss of Rs 15,499.58 crore in 2019-20.

"The loss has come down mainly due to reduction in employee wages on account of voluntary retirement opted by 78,569 employees," a BSNL official said.

The revenue from operations of the company declined by 1.6 percent to Rs 18,595.12 crore in 2020-21 compared to Rs 18,906.56 crore it reported in 2019-20, the official said.

BSNL's net worth has come down to Rs 51,686.8 crore during FY2021 from Rs 59,139.82 crore in the previous year. The outstanding debt of the company increased to Rs 27,033.6 crore in FY2020-21 from Rs 21,674.74 crore in FY2019-20.