Tata Steel BSL reported a net profit of Rs3.28bn in Q2 (July-Sep) compared to the prior year’s net loss of Rs2.55bn, stated a company statement on Oct 14. In Q2, the company’s revenue grew by 21pc to Rs55.52bn from Rs45.80b.

 

The company’s crude steel output rose in Q2 by 7pc over the prior-year following optimum capacity utilisation, as reported by Davis Index.

 

Tata Steel on 18 May, 2018, announced the completion of its acquisition of the then Bhushan Steel (BSL) through its wholly owned subsidiary Bamnipal Steel Ltd (BNPL), wrapping up the resolution of the first case under Insolvency Bankruptcy Code, 2016. In November 2018, the company was renamed as Tata Steel BSL Limited. 

 

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