Tata Steel BSL on July 25 reported a consolidated net profit of Rs 111.05 crore for the first quarter ended June 30. The company, which was acquired by Tata Steel Ltd in May 2018, had clocked a net profit of Rs 2,104.28 crore in the same quarter last fiscal.
The consolidated figures for the current quarter include financial results of Bhushan Energy Ltd (BEL), which was a subsidiary of Bhushan Steel, and hence not comparable with previous periods, Tata Steel BSL said in a BSE filing.
Bhushan Steel Ltd (BSL) was acquired by Tata Steel through its wholly-owned subsidiary Bamnipal Steel Ltd (BNPL) and later renamed as Tata Steel BSL.
During the quarter under review, total income of the Tata Steel BSL was at Rs 4,359.36 crore.
The total income stood at Rs 4,646.15 crore during April-June period of 2018-19.
"In the consolidated results, the figures for the quarter ended March 31, 2019 are the balancing figures between audited figures in respect of full financial year for the year ended March 31, 2019 and the unaudited year to date figures up to December 31, 2018 which was not subjected to limited review.
"Similarly, figures for the comparative quarter ended June 30, 2018 are consolidated on the basis of published results of the company and un-reviewed financial statements prepared by the management of respective entities," the company said.
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