Tata Steel BSL Limited, (formerly Bhushan Steel Limited and acquired by Tata Steel) reported crude steel production of 659,000 mt during April-June 2020, down 41 percent compared to corresponding period of previous fiscal, the company reported in regulatory filing on Friday, July 10.
The company’s sales during the first quarter of current fiscal was down 19.58 percent at 694,000 mt.
“Production and sales were impacted in the first quarter as the outbreak of Covid-19 and ensuing mobility restriction severely impacted industrial activity and consumer sentiment. This affected crude steel production and sales,” the company said in regulatory filing.
Tata Steel BSL Limited was formed following the acquisition of Bhushan Steel Limited through the bankruptcy resolution process. The company, the third largest integrated steel mill in the country, operated a 5.6 million mt per year plant at Angul in eastern state of Odisha.