Blue Star Q3 2006 net profit up 17 per cent at Rs 6.91 crores

29 January 2006
MUMBAI, INDIA

Central airconditioning and commercial refrigeration firm Blue Star’s Net Profit for the quarter ended December 31, 2005 rose 17% to Rs 6.91Crores, the company said. Total Income rose 18% over the corresponding period last year to Rs 263.82 crore.

Blue Star put the Earnings Per Share (EPS) at Rs 3.84. Blue Star said the income for the nine months ended December 31, 2005 grew 27% to Rs 778.65 crores, while net profit increased from Rs18.28 crores to Rs 23.54 crores, a gain of 29% year-on-year.

Blue Star said it bagged orders from State Bank of India, Mumbai, Deen Dayal Upadhyay Hospital, New Delhi, High Life Mall, Mumbai, Accenture, Bangalore, Syngenta, Goa and Select City Mall, New Delhi, during the quarter. Blue Star Chairman & Managing Director Ashok M Advani cited Pashng of an enhanced capacity and changes in product mix of three manufacturing plants as the reasons for moderation in billings growth during the quarter.

Since these changes have been completed, Advani said he expected billings growth to accelerate in the next quarter, a company statement said. For the year ended March 31, 2005, Blue Star had reported a Net Profit of Rs 39.16 crores on a total Income of Rs 930.92 crores. The Company has declared a dividend of 100%.