Bhushan Steel’s Q4 net jumps by 15%

Bhushan Steel has reported results for the quarter and year ended March 31, 2012.

The Company’s net profit for the fourth quarter ended March 31, 2012 has increased by 14.91% at Rs 330.89 crore as compared to Rs 287.96 crore for the quarter ended March 31, 2011. Its total income shot up by 41.86% at Rs 2842.93 crore for the quarter under review from Rs 2004.03 crore for the same quarter last fiscal.

For the full year ended March 31, 2012, the Company’s net profit registered marginal growth of 1.92% at Rs 1024.35 crore as compared to Rs 1005.09 crore for the year ended March 31, 2011. Company’s total income has clocked in growth of 41% at Rs 9969.20 crore for the year under review from Rs 7069.98 crore for the year ended March 31, 2011.

The company’s board, which met to approve the results, also gave a go-ahead for a fund raising plan of up to $1 billion.