Financial Performance For The 9-Month Period Ended December 31, 2008
Central airconditioning and commercial refrigeration major Blue Star Limited reported Total Income of Rs 1844.33 crore for the 9-month period ended December 31, 2008, representing 21% growth over the same period in the previous year.
Net Profit at Rs 113.55 crore increased by 9% compared to Rs 103.73 crore earned in the 9-month period ending December 31, 2007.
Carry Forward Order Book as on December 31, 2008 increased to Rs 1626 crore compared to Rs 1072 crore as at December 31, 2007, registering a growth of 52%.
Financial Performance For The Quarter Ended December 31, 2008
For the quarter ended December 31, 2008, the Company reported Total Income of Rs 566.72 crore representing 10% growth over the same period in the previous year.
Net Profit at Rs 32.19 crore declined by 9% compared to Rs 35.44 crore in Q3FY08. The economic slowdown coupled with an increase in cost of imported raw material and higher interest cost adversely affected profit margin.
Ashok M Advani, Chairman and Managing Director says, "In spite of a healthy carry forward order book, the liquidity crunch and economic downturn have affected demand in several market segments. This has led to delays in project execution and slowed revenue growth. To compensate, Blue Star has been selectively pursuing segments which offer profitable growth opportunities, keeping in mind the volatility of the market place. We have also focused on value engineering, efficient working capital management and control of operating costs. Though the economic outlook appears to be uncertain over the next few quarters, I am confident that our tight controls and operational improvements will see us through this difficult period and improve our competitiveness for the future."
For additional information, please contact: B Thiagarajan, Executive Vice President, Blue Star Limited, Bandbox House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030 email: firstname.lastname@example.org Telephone: 66544000.