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Debt-laden Bhushan Steel Ltd reported widening of its net loss to Rs 16.07 billion for the quarter ended December 2017. The bankrupt firm, which is undergoing insolvency proceedings, had posted a net loss of Rs 7.43 billion in the same quarter a year ago. The company's revenue from operations during October-December quarter of 2017-18 stood at Rs 44.07 billion as against Rs 40.94 billion in the same period a year ago, Bhushan Steel said in a BSE filing. During the period under review, its total expenses also rose to Rs 58.44 billion from Rs 49.37 billion. Bhushan Steel, one of the 12 non-performing accounts referred by the Reserve Bank of India for National Company Law Tribunal (NCLT) proceedings, owes an amount of Rs 444.78 billion to its lenders.
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