Published on 15/11/2017 11:51:05 AM | Source: Dion Global Solutions Ltd

Bhushan Steel posts Q2 net loss of Rs 467.37 cr

The company reported standalone net loss during the quarter stood at Rs 467.37 crore as compared to net loss of Rs 980.22 crore in the previous year quarter. Net revenue of the company rose substantially by 61.13 per cent at Rs 4,188.05 crore in July-September quarter of this fiscal as against Rs 2,599.17 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 68.23 per cent to Rs 3,752.80 crore from Rs 2,230.77 crore in year ago period. Other Income dipped by 94.27 per cent at Rs 0.98 crore versus (Sep'16 Rs 17.10 crore).

Operating Profit surged by 17.46 per cent to Rs 571.82 crore as against Rs 486.81 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 27.12 per cent in September quarter. Interest grew by 12.26 per cent y-o-y to Rs 1,491.18 crore, while Taxation increased by 610.93 per cent at Rs -940.27 crore (Sep'16 Rs -132.26 crore).