BHUSHAN STEEL LTD. - Announces Q2 results

Bhushan Steel Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2015:<BR><BR>The Company has posted a net loss of Rs. (7327.90) million for the quarter ended September 30, 2015 where as the same was at net loss of Rs. (2971.90) million for the quarter ended September 30, 2014. Total Income is Rs. 31780.00 million for the quarter ended September 30, 2015 where as the same was at Rs. 29665.50 million for the quarter ended September 30, 2014.<BR><BR>- During the last quarter of previous year, with effect from April 01, 2014, the Company had revised the estimated useful lives of fixed assets. The said changes in the estimates of useful lives of assets with effect from April 01, 2014, had impacted in the previous quarter and half year ended on September 30, 2015. Consequently, the figures in respect of the depreciation charged for the quarter and half year ended on September 30, 2015 / previous quarters and half year presented are not directly comparable.