Bhushan Steel Q2 net profit dips 2%

Bhushan Steel today reported around two per cent dip in its second quarter net profit at Rs 201.51 crore.

The company had clocked Rs 206.88 crore net profit in the July-September quarter of the last fiscal, it said in a filing to the BSE.

Net income of the company increased to Rs 2,554.25 crore during the quarter under review from Rs 2,465.36 in the year ago period.

Expenses, led by higher raw materials consumption, also went up to Rs 2,011.57 crore from Rs 1,895.63 crore.

Bhushan Steel consumed raw materials worth Rs 1,327.98 crore during the quarter under review compared to Rs 1,015.34 crore a year ago. It has three manufacturing plants.

Bhushan Steel shares closed flat at Rs 491.55 apiece on BSE today.

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