Tata Steel BSL posts over 5-fold jump in Q2 net profit to 1,837 cr

Tata Steel BSL on Tuesday reported over a five-fold jump in its consolidated net profit to Rs 1,837.03 crore for the September 2021 quarter, mainly on account of higher income.

In a BSE filing, the company said it had clocked a net profit of Rs 341.71 crore during the corresponding period of the previous financial year 2020-21.

Its total income during July-September 2021 rose to Rs 8,329.68 crore, from Rs 5,545.35 crore in the year-ago period.

The company’s expenses stood at Rs 6,492.97 crore, against Rs 5,203.33 crore in the year-ago quarter.

On May 18, 2018, Tata Steel acquired Bhushan Steel Ltd through its wholly-owned subsidiary Bamnipal Steel Ltd. Later, the company renamed it as Tata Steel BSL Ltd.

Tata Steel BSL is India’s fifth-largest secondary steel producing company with an existing steel production capacity of 5.2 million tonnes per annum.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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