Electrosteel Steels begins trial production

Electrosteel Steels (ESL) has started trial production at its rebar rolling mill with bought out billets on October 11, 2012. This production is part of ESL’s 2.51 million tonnes-a-year and Rs 9,562 crore steel plant project, located in the Bokaro district of Jharkhand. The mill is expected to produce 0.5 million tonnes of TMT bars next year.

The company has reported net loss of Rs 76.74 crore for the quarter ended March 31, 2012, against net loss of Rs 6.31 crore for the corresponding period last fiscal. Total income increased by 675.10% at Rs 57.59 crore during the quarter under review from Rs 7.43 crore in the year-ago period.