Bhushan Steel Q4 net profit up 19.5%

Bhushan Steel,the country’s third-largest producer of secondary steel,reported 19.5 per cent rise in the net profit at Rs 287.9 crore in the fourth quarter ended March 31,2011.

The company had achieved a net profit of Rs 240.93 crore in the January-March quarter last fiscal,Bhushan Steel said in a statement.

Income from operations of Bhushan Steel for Q4 in 2010-11 was Rs 1,966 crore,over Rs 1608 crore for the same period a year back,it added.

For the full-year ended March 31,2011 ,the secondary steel producer’s net profit rose to Rs 1033 crore from Rs 845 crore in the same period a year ago.