Bhushan Steel Jan-Mar net profit down 15% at Rs 280 crore

Bhushan Steel today reported a 15% dip in standalone net profit for the quarter ended March 31, 2013 at Rs 280.21 crore.

The company had clocked Rs 330.89 crore net profit in the January-March quarter of the previous fiscal, it said in a BSE filing.

Total income of the company also slightly dipped to Rs 2819.65 crore against Rs 2836.76 crore a year ago.

Expenses also marginally went up to Rs 2108.30 crore compares to Rs 2105.03 crore during the January-March quarter of the previous fiscal.

For the full-year 2012-13, Bhushan Steel's consolidated net profit fell to Rs 906.94 crore compared to Rs 1,014.83 crore a year ago.

Income from operations, however, rose to Rs 10,744.27 crore against Rs 9,961.18 crore.

Bhushan Steel's Board has recommended dividend of Rs 0.50 per share for the year ended March 31, 2013.