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Business News/ Companies / Company-results/  Bhushan Steel Q1 net loss at Rs141.63 crore
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Bhushan Steel Q1 net loss at Rs141.63 crore

The company had posted a net profit of Rs76.26 crore in the year-ago period

Bhushan Steel, which produces automotive steel, is facing allegations of bribing bank officials to get big loans.Premium
Bhushan Steel, which produces automotive steel, is facing allegations of bribing bank officials to get big loans.

Mumbai: Bhushan Steel Ltd. on Tuesday reported a net loss of 141.63 crore in the quarter ended 30 June. It had posted a net profit of 76.26 crore in the corresponding period a year earlier.

However, total sales was at 2,801.68 crore in the April to June period, up 12.48% from 2,490.86 crore.

The company, a producer of automotive steel, is facing allegations of bribing bank officials to get big loans.

The company’s shares ended at 177.75 on the BSE, down 9.98% from the previous close. The exchange’s benchmark Sensex index closed at 25,880.77 points, up 1.42%.

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Published: 12 Aug 2014, 07:03 PM IST
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