Bhushan Steel Q3 net loss widens to Rs 1,607 crore

NEW DELHI: Debt-laden Bhushan Steel Ltd reported widening of its net loss to Rs 1,607 crore for the quarter ended December 2017.

The bankrupt firm, which is undergoing insolvency proceedings, had posted a net loss of Rs 743 crore in the same quarter a year ago.

The company's revenue from operations during October-December quarter of 2017-18 stood at Rs 4,407.71 crore as against Rs 4,094.73 crore in the same period a year ago, Bhushan Steel said in a BSE filing.

Bhushan Steel, one of the 12 non-performing accounts referred by the Reserve Bank of India for National Company Law Tribunal (NCLT) proceedings, owes an amount of Rs 44,478 crore to its lenders.

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