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.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.