Tata Steel BSL posts over 5-fold jump in Q2 net profit to 1,837 cr

Tata Steel BSL on Tuesday reported over a five-fold jump in its consolidated net profit to Rs 1,837.03 crore for the September 2021 quarter, mainly on account of higher income.

In a BSE filing, the company said it had clocked a net profit of Rs 341.71 crore during the corresponding period of the previous financial year 2020-21.

Its total income during July-September 2021 rose to Rs 8,329.68 crore, from Rs 5,545.35 crore in the year-ago period.

The company's expenses stood at Rs 6,492.97 crore, against Rs 5,203.33 crore in the year-ago quarter.

On May 18, 2018, Tata Steel acquired Bhushan Steel Ltd through its wholly-owned subsidiary Bamnipal Steel Ltd. Later, the company renamed it as Tata Steel BSL Ltd.

Tata Steel BSL is India's fifth-largest secondary steel producing company with an existing steel production capacity of 5.2 million tonnes per annum.