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Friday, Feb 07, 2003

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Bhilai Steel net profit up 23 pc in Q3

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WITH a cumulative profit of Rs 440 crore, Bhilai Steel Plant (BSP) — the star performer of Steel Authority of India Ltd — has raised hopes of surpassing the Rs 600-crore net profit target set for the current fiscal.

Sources said the plant's third quarter profit stood at Rs 138 crore, which was 23 per cent higher than the Rs 112 crore earned during the same period in 2001-02.

The cumulative net profit for the April-December period stood at Rs 360 crore as against Rs 223 crore previously.

In the final quarter of the year, the plant hopes to turn in a net profit of about Rs 80 crore per month.

It has already closed January with a net profit of around Rs 80 crore, according to a BSP statement.

BSP's turnover in the third quarter stood at Rs 1,644 crore as against Rs 1,386 crore in the previous year.

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Bhilai Steel net profit up 23 pc in Q3

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