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Financially-troubled Electrosteel Steels Ltd has reported improved revenue during 2015-16 at ₹2,597.69 crore against ₹1,831.24 crore in 2014-15. It brought down net loss for the financial year to ₹326.55 crore from ₹624.04 crore recorded in the previous fiscal.
In the fourth quarter of 2015-16, it posted a net profit of ₹284.37 crore against a net loss of ₹231.31 crore in the corresponding quarter last year. In the fourth quarter, its finance cost was ₹134.01 crore (₹109.94 crore). However, there has been an exceptional item of ₹276.52 crore, which soared up the bottomline in the Q4. The account did not explain the exceptional item.
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