Bharat Sanchar Nigam Ltd on Thursday said it expected net profit for 2003-04 to double to about Rs 3,000 crore (Rs 30 billion), while revenues were likely to increase marginally to Rs 29,000 crore (Rs 290 billion).

"During 2003-04, our net profit is estimated to be around Rs 3,000 crore which is almost double the previous fiscal's net profit of Rs 1,446 crore (Rs 14.46 billion), and our revenue is likely to touch Rs 29,000 crore, V P Sinha, chairman and managing director, BSNL, told reporters in New Delhi.

In 2002-03, the telecom PSU posted revenues of Rs 28,000 crore (Rs 280 billion), he said, adding the estimated profit for the year ended March 2004 had been earned on additional 45 lakh lines.

"Our cellular subscriber base is expected to rise from 5 million to 25 million in the next one year," Sinha said.

The corporation on Thursday announced ISD rate cut of upto 25 per cent for calls to destinations including the United States, Canada, and Gulf region as it would route its ISD calls through VSNL for the time being, for which an agreement has already been signed.

"But we are going ahead with our own ILD plans and will have agreements very soon with a number of international carriers in various countries," he said, adding the corporation was currently negotiating with these carriers.

"It could take less than three months...it could take even 10 days," Sinha said.

BSNL's total subscriber base including cellular, WLL and fixed line connections stands at 4.13 crore (41.3 million).