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Blue Star maintains growth momentum "Total Income up 24%"

Financial Performance

Central airconditioning and commercial refrigeration major Blue Star Ltd has reported a Total Income of Rs 142.48 crores for the quarter ended June 30, 2003, a year-on-year growth of 24%. Net Profit increased to Rs 2.65 crores from Rs 2.35 crores in the previous year.

Ashok M Advani, Chairman & Chief Executive adds, "We are back on the growth path, and the macro economic conditions are generally favorable. The new order inflow has grown by 29% during the quarter ended June 30, 2003, and I expect the trend to continue. Blue Star will be completing 60 years in September, and I am optimistic about the outlook for our Diamond Jubilee year."

It may be recalled that the Company had reported a Net Profit of Rs 31.04 crores for the year ended March 31, 2003 on a Total Income of Rs 601.06 crores. The Company declared a Special Diamond Jubilee dividend of 25% in addition to the normal dividend of 65%, making a total of 90%.

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