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Tata Steel BSL posts standalone net loss of Rs 255.89 crore in Q2

The company had posted a net profit of Rs 60.7 crore during the corresponding quarter of 2018-19

Q2 company results
Illustration by Ajay Mohanty

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.