Losses dwindled by Tata Steel BSL in quarter 3 to Rs 239.5 crores

Tata Steel BSL, formerly Bhushan Steel, Tuesday said its net loss narrowed to Rs 239.56 crore in the third quarter ended December this fiscal. The company had reported a net loss of Rs 1,721.37 crore in the same quarter of the previous fiscal. Total income during the quarter rose to Rs 4,922.72 crore, from Rs 4,412.75 crore, it said in a regulatory filing.

On May 15, 2018, the National Company Law Tribunal (NCLT) had approved the resolution plan submitted by Tata Steel Limited to acquire Bhushan Steel through its wholly owned subsidiary Bamnipal Steel Limited (BNPL). Stock of the company closed 3.83 percent down at Rs 30.15 on the BSE.