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Last Updated : May 20, 2020 10:33 PM IST | Source: PTI

Tata Steel BSL posts net profit of Rs 6 crore

The company's consolidated total income declined to Rs 4,288.87 crore, over Rs 5,547.71 crore in the year-ago period, the filing said.

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Tata Steel BSL Ltd on Wednesday reported a consolidated net profit of Rs 5.93 crore for the quarter ended March 31. However, the company had posted a consolidated net loss of Rs 212.41 crore in the year-ago period, Tata Steel BSL Ltd said in a filing to the BSE.

The company's consolidated total income declined to Rs 4,288.87 crore, over Rs 5,547.71 crore in the year-ago period, the filing said.

The company's management believes that there may not be significant impact of the COVID-19 pandemic on the financial position and performance of the Tata group in the long term, the filing said.

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The group, the filing said, has carried out its initial assessment of the likely adverse impact on economic environment and financial risk for the company due to COVID-19.

"The demand for the group's products are expected to be lower in the short term, though the same is not likely to have a continuing impact on the business of the Group," it added.

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First Published on May 20, 2020 10:32 pm
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