Tata Steel BSL Q2 results: Posts net profit of Rs 341.71 crore; Revenue grew 21.2 pct

Tata Steel BSL on Wednesday reported a consolidated net profit of Rs 341.71 crore for the quarter ended September 30, 2020, helped by higher income. The company had posted a consolidated net loss of Rs 243.9 crore in the same quarter last year.

Its consolidated revenue from operation during the July-September 2020 period grew 21.2 per cent to Rs 5,519.4 crore against Rs 4.554.63 crore posted in a year-ago period. EBITDA grew by 130.6 per cent at Rs 1,106.3 crore, against Rs 479.1 crore posted last year in the same quarter. The margin almost doubled to 20 per cent in Q2FY21 against 10.5 per cent posted in Q2FY20.

Total expenses climbed to Rs 5,203.33 crore as compared to Rs 4,811.95 crore posted in the year-ago quarter.

In May 2018, debt-laden Bhushan Steel Ltd (BSL) was acquired by Tata Steel through its wholly-owned subsidiary Bamnipal Steel Ltd (BNPL) in insolvency proceedings. It was later renamed as Tata Steel BSL.