Crisis-ridden Bhushan Steel has reported a net loss of Rs 1,130.65 crore in the fourth quarter ended March 31, 2017, much larger than Rs 756.76 crore mentioned in the unaudited results in May this year. Last month, lenders led by State Bank of India decided to started insolvency proceedings against Bhushan Steel in National Company Law Tribunal. The embattled firm had posted a net loss of Rs 1,185.16 crore in the year-ago period, it said in a regulatory filing. According to the audited results, the company's total expenses grew to Rs 5,994 crore from Rs 5,060.47 crore in the year-ago period.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)