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.)
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.