Bhushan Steel's Q3 net loss widens to Rs 454 cr

16 February 2015

Bhushan Steel  's net loss widened to Rs 454.24 crore in the October-December quarter on higher expenses and finance costs.

It had reported Rs 54.79 crore net loss for the corresponding quarter if last fiscal, 2013-14, the company said in an exchange filing today. Its income from operations grew marginally to Rs 2,460 crore, from Rs 2,407 crore a year earlier.

Expenses, on the other hand, also increased to Rs 2,336 crore, from Rs 2,047 crore. Besides, a nearly Rs 150 crore higher finance costs made its bottomline shrink during the third quarter of the current fiscal. The company incurred Rs 580 crore finance costs, up from Rs 432 crore in the corresponding quarter of the last fiscal.