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
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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