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Bhushan Steel registers Q4 profit of Rs 64.08 crore; up 32%

Written by: Staff

New Delhi, May 2 (UNI) Bhushan Steel and Strips Ltd, manufacturers of cold rolled steel, today registered a 32 per cent hike in its net profit at Rs 64.08 crore for the fourth quarter ending March 2006, as against Rs 48.49 crore for the same period last year.

The Company's total revenue for the year ended 2006 was Rs 3070 crore as against Rs 2868 crore for the last year.

''The company has been able to mantain its performance despite of the falling steel prices scenario prevalent during the first half of the financial year 2006. It is because of our value added product mix which includes CRCA sheet for critical applications like car body outer panels and white good, colour coated sheets, Galume etc,'' Bhushan Steel and Strips Ltd MD Neeraj Singal said.

The progress of an Integrated Steel and Power Project in Orissa is going on at full swing and the company is hopeful to start Phase I of the project by October 2006.


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