Blue Star continues to grow

Blue Star continues to grow

Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 263.82 crores for the quarter ended December 31, 2005 representing a growth of 18% over the corresponding period last year. Net Profit for the quarter grew 17% to Rs 6.91 crores, while Earnings Per Share (EPS) increased to Rs 3.84 from Rs 3.30.

The Total Income for the nine months ended December 31, 2005 grew 27% to Rs 778.65 crores. Net Profit for the same period increased from Rs 18.28 crores to Rs 23.54 crores representing an increase of 29% over the same period last year. The cumulative EPS for nine months stood at Rs 13.09 as against Rs 10.16 last year.

The Company bagged several prestigious orders during the quarter including 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.

Ashok M Advani, Chairman & Managing Director adds "Blue Star's new order inflow continues at a very healthy rate with no sign of slowing down. The moderation in billings growth in Q3 was partly due to normal seasonal factors and partly because of phasing in of enhanced capacity and changes in product mix at three of the manufacturing plants. These changes have now been completed and billings growth should once again accelerate in Q4."

It may be recalled that Blue Star had reported a Net Profit of Rs 39.16 crores on a Total Income of Rs 930.92 crores for the year ended March 31, 2005. The Company continued its trend of attractive dividends by declaring a dividend of 100%.

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