Bhushan Steel Q2 net loss at Rs 733 cr

Bhushan Steel Ltd today reported widening of standalone net loss to Rs 732.79 crore for the second quarter ended September 30.
The company had posted a net loss of Rs 297.19 crore for the year-ago period, it said in a regulatory filing.
However, net sales of the company on standalone basis was up 7.07 per cent to Rs 3,173.82 crore during the quarter under review as against Rs 2,963.99 last fiscal.
For the six months period ended September 30, Bhushan Steel net loss on standalone basis also widened to Rs 1,471.75 crore. It had a net loss of Rs 438.82 crore in the same period of the last fiscal.

Its net sales during the first half of the current fiscal was up 6.77 per cent to Rs 6,156.43 crore from Rs 5,765.67 crore in the year ago period.
Meanwhile, in a separate filing Bhushan Steel informed that its board has considered and approved "sale & lease back arrangements of Cock Oven Plant -I and Oxygen Plant -V of the company situated at integrated steel plant, Meramandali Odisha".