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Bhushan Steel output grows 23 pc to 1 MT in Q2

Business Finance

Press Trust of India  |  New Delhi 

Bhushan Steel Ltd (BSL), which was recently acquired by domestic giant Tata Steel, Thursday posted an over 23 per cent jump in its output at 1.05 million tonnes (MT) for the quarter ended September 30.

The company had produced 0.85 MT during the July-September period of 2017-18 fiscal, BSL said in a BSE filing.

During the said period, the company said its sales also rose by 10 per cent to 1.14 MT from 1.03 MT in the year-ago quarter.

Tata Steel Ltd had won the bid to acquire debt-laden Bhushan Steel Ltd (BSL) in an insolvency auction. The bankrupt firm was among the 12 stressed assets the RBI had referred for NCLT proceedings last year.

Tata Steel acquired BSL through its wholly-owned subsidiary Bamnipal Steel Ltd (BNPL).

Shares of Bhushan Steel today ended 4.91 per cent up at Rs 26.70 apiece on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 04 2018. 21:25 IST