Bhushan Steel today said its net profit for the fourth quarter ended March 31, 2009, dipped by 21.14% to Rs 116.40 crore over the same period last year.      

The company had a net profit of Rs 147.61 crore in the same quarter ended March 2008, the steel producer said in a filing to the Bombay Stock Exchange.      

Net sales of the company declined to Rs 1,119.95 crore for the quarter under review, compared to Rs 1,216.41 crore in the same period last year.       

For the year ended March 31, 2009, the company has posted a net profit of Rs 412.79 crore as against Rs 423.73 crore last year, down 2.58%.

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