Bhushan Steel's net profit surges 92.88%

Bhushan Steel's net profit surges 92.88%India's leading steel company, Bhushan Steel has declared its fourth quarter financial results for the fiscal year 2009-10 and has managed to post a striking net profit and revenue just like the other steel companies in the country.

The company has posted a net profit of Rs 240.93 crore for the quarter that ended in 31st March, 2010. This net profit figure has grown up by 92.88 % as compared to the same quarter in the preceding year.

So far as the net sales of the firm are concerned, it has touched Rs 1,608.74 crore during the January-March period of fiscal year 2009-10. It has Rs 1,119.87 crore for the same quarter last year.

Hence there is growth of 43.65% in the net sales of the company in the fourth quarter against same quarter last year. This has been informed by Bhushan Steel in a filing at the Bombay Stock Exchange. The annual net profit of the company was reported to be of Rs 829.39 crore for the year under review from Rs 421.30 crore last year with a hike of 96.86%.