Bhushan Steel Q1 net up 34 pc at Rs 178 cr

MUMBAI: Domestic steel producer Bhushan Steel on Thursday said its net profit rose by 34.87 per cent to Rs 178.87 crore in the first quarter ended June 30, 2009.

Total income rose to Rs 1,337.49 crore in the latest quarter, against Rs 1,321.35 crore in the same period last year, Bhushan Steel said in a filing to the Bombay Stock Exchange.

Meanwhile, the consolidated net profit of the company rose marginally to Rs 424.75 crore for the year ended March 31, 2009.

Total income also increased to Rs 4,979.3 crore for the year ended March 2009, against Rs 4,257.27 crore in the same period last fiscal.

Shares of Bhushan Steel today ended at Rs 747.70 on the Bombay Stock Exchange, up 4.64 per cent from previous close.