BSP net jumps 193%

Bokaro steel plant of Sail has recorded a 193.75% jump in net profit to Rs 3,290 crore in 2004-5 as compared to Rs 1,120 crore achieved in the
previous year.

The turnover reached Rs 10,019 crore representing a 32% growth over Rs 7,614 crore posted in 2003-4.

The gross margin for the year registered a 132%  jump to Rs 3,673 crore (Rs 1,582 cr) while operating profit rose by 155.69% to Rs 3,439 crore (Rs 1,345 cr).

Announcing the company's financial results today, BSP managing director U P Singh said ''The robust financials have been achieved despite the constraints on volumes due to coal shortage spread over almost the entire first half of the year. The strategy of increased focus on production of special grade steels helped bsp offset the depressing effects of the coal shortage,'' he said.

BSP also registered best-ever annual production of hot metal, crude steel, cast slab, HR coil and saleable steel during the year. Total production of steel stood at 4.13 million tonne.

Singh said the production target for the current fiscal was 4.65 mt following re-commissioning of the fifth blast furnace in December last year.

BSP, the lowest cost producer of hot metal and crude steel in Sail, has lined up a total investment of Rs 10,000 crore to upgrade various facilities and increase production capacity from  the current 4.58 mt to around 7 mt by 2011-12.