Bhushan Steel net up 68% to Rs 37 cr

BS 200 SCORECARD

Bhushan Steel's net profit rose 68 per cent to Rs 37 crore from Rs 22 crore in the third quarter ended December 2003. The bottom line growth was led by top line growth.

Revenues rose 77 per cent to Rs 798 crore from Rs 451 crore in the year-ago period. Firm steel prices and strong demand has led to strong results from the company, which is the third largest producer of cold-rolled steel after SAIL and Tata Steel, with an installed capacity of a million tonne.

Bhushan Steel supplies cold rolled steel to original equipment manufacturers such as Maruti, Tata Motors, Honda, Ford, Mahindra and Mahindra, Bajaj, Fiat, Hero Honda, and Hyundai.

Last month, the company said it would commence additional manufacturing facilities at its plant situated at Khopoli in Maharashtra with regards to the production of pre-painted galvanized material (PPGI).