The Australian steel business of British industrialist Sanjeev Gupta has lent funds to other parts of his debt-plagued global operations, even though December-half profits plunged by 75 per cent and cash flow dropped sharply.

InfraBuild employs 4900 people in Australia and runs two electric arc furnaces in Sydney and Melbourne, 10 manufacturing mills on the eastern seaboard, and a network of steel distribution sites and recycling operations.