Tata Steel BSL posts Rs 255 cr loss for Sept quarter
Tata Steel had won the bid to acquire Bhushan Steel in an insolvency case.
By PTI |
New Delhi: Tata Steel BSL, formerly known as Bhushan Steel Ltd, on Thursday said it has posted a standalone net loss of Rs 255.89 crore for the quarter ended September 30.
The company had posted a net profit of Rs 60.7 crore during the corresponding quarter of 2018-19, the company said in a BSE filing.
Its total income during the September 2019 quarter fell to Rs 4,580.47 crore from Rs 5,907.47 crore in the year-ago period, the filing said.
In May last year, debt-laden Bhushan Steel Ltd (BSL) was acquired by Tata Steel through its wholly-owned subsidiary Bamnipal Steel Ltd (BNPL) and was later renamed as Tata Steel BSL.
Tata Steel had won the bid to acquire Bhushan Steel in an insolvency case.
The company had posted a net profit of Rs 60.7 crore during the corresponding quarter of 2018-19, the company said in a BSE filing.
Its total income during the September 2019 quarter fell to Rs 4,580.47 crore from Rs 5,907.47 crore in the year-ago period, the filing said.
In May last year, debt-laden Bhushan Steel Ltd (BSL) was acquired by Tata Steel through its wholly-owned subsidiary Bamnipal Steel Ltd (BNPL) and was later renamed as Tata Steel BSL.
Tata Steel had won the bid to acquire Bhushan Steel in an insolvency case.
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