The consolidated figures for the current quarter include financial results of Bhushan Energy Ltd (BEL), which was a subsidiary of Bhushan Steel, and hence not comparable with previous periods, Tata Steel BSL said in a BSE filing.
Tata Steel adds heft to its Bhushan Steel acquisition with a successful bid for Bhushan Energy
Tata Steel will step into a period of consolidation of capacity, with earnings relying more on product mix, steel prices and the benefits of restructuring
Sakshi Batra does a 3 Point Analysis fine print of the result of Tata Steel's newly acquired company.
Tata Steel helped Bhushan to swiftly gain its lost production.
Total income during the quarter rose to Rs 5,517.50 crore, from Rs 4,495.98 crore, the company said in a regulatory filing.
On March 11, Tata Steel BSL's board had approved issuance of 11.09 per cent shares to Tata Steel on a private placement basis.
The two-day programme, which ended on February 5, was organised by Tata Steel BSL, formerly Bhushan Steel Ltd, to offer a platform for artistic expression to eminent artists and learning opportunities for budding painters from the locality.
Tata Steel last year acquired Tata Steel BSL, formerly known as Bhushan Steel, through its wholly-owned subsidiary Bamnipal Steel.
The company had recorded 1.14 MT of sales in the previous quarter, it said in a regulatory filing to the BSE.
The rating for long-term / short-term bank facilities (fund based / non-fund based) of Rs 5,000 crore was assigned as AA-Stable / A1+ by CARE.