Tata Steel BSL Limited has reported a fivefold increase in net profit to INR 18.37 billion ($245 million) during the second quarter (July-September) of the fiscal year 2021-22, largely riding on other income, a regulatory filing by the company said on Wednesday, October 20.
According to the filing, total income during the quarter was recorded at INR 83.3 billion ($1.11 billion), up from INR 55.45 billion ($739 million) during the corresponding quarter of the previous fiscal.
Tata BSL Limited is India’s fifth-largest secondary steel mill and was acquired through the bankruptcy resolution process for the erstwhile Bhushan Steel Limited (BSL) in 2018.