Tata Steel BSL posted a loss of Rs1,264 crore (US $1775 approx) for 2018-19, but its gross revenue rose from Rs17,404 crore (US $2445 approx) in 2017-18 to Rs20,891crore (US $2934 approx) in 2018-19, suggesting green shoots of recovery are beginning to show.
Tata Steel took over the insolvent Bhushan Steel a year ago to form the current Tata Steel BSL.
Interest costs on debt are down to Rs3,752 crore (US $5270 approx) from Rs6,305 crore (US $8849approx) in 2018.
Managing director Rajeev Singhal said that in 2018-19, sales were up by 10pc at 4.16mn mt, attributing the same to higher mill availability with an improvement in maintenance practices and uninterrupted raw material supply.
In the tubes sector for the automotive segment the company has a 25pc market share and a 50pc market share in the appliance sector.