Bhushan Steel’s during Q2 of FY 2012 reported net sales grew by 43.4% YoY to INR 2,465 crore mainly on account of higher volumes of flat products.

The company’s flat products sales volumes grew by 41.7% YoY to 466,748 tonnes and long product sales volumes grew by 3.8% YoY to 86,639 tonnes in Q2 of FY 2012. Long product average realization increased by 19.9% YoY to INR 45,164 per tonne and flat product average realization increased by 3.7% YoY to INR 46,987 per tonne.

During Q2 of FY 2012, the company’s EBITDA increased by 47.4% YoY to INR 721 crore, representing EBITDA margin of 29.2%. EBITDA per tonne stood at USD 280 in Q2 of FY 2012 compared to USD 248 in Q2 of FY 2011 and USD 300 in Q1 of FY 2012. Depreciation expense increased by 185% YoY to INR 151 crore on account of higher capacity. Interest expense increased by 200.3% YoY to INR 302 crore due to higher debt. Consequently, net profit decreased by 20.1% YoY to INR 207 crore.

(Sourced from www.stockmarketsreview.com)