The builder of the national broadband network, NBN Co, made a $323 million loss in the 2010 financial year.
The loss was revealed in the government's first performance report on the NBN rollout, which was released by the joint committee on the national broadband network on Monday.
NBN Co reported no operating revenues during the year to June 30, 2011.
The construction company said its main costs were $119 million of employee-related expenses, $161 million for legaland technical advice expenses, and $37 million of information technology and facilities expenses.
The result took the losses for NBN Co to $403.06 million for the past two years.
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There were more staff, 906, than the number of activated premises, 622, as at June 30, 2011, the unaudited report said.
Capital spending by NBN Co was $463 million in the year, which was nearly $1 billion less than forecast in the company's corporate plan of $1.42 billion.
The commonwealth had provided $1.362 billion in funding to NBN Co as at June 30, 2011, with the total amount capped at $27.5 billion during the project's build, expected to finish in 2021.
NBN Co was created by the government to build a fibre-optic cable network to 93 per cent of premises in Australia, with the rest provided by satellite and fixed wireless broadband.
