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Blue Star Q1 Net Profit up three-fold to Rs 22.32 crore

Financial Performance

Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 462.32 crore for the quarter ended June 30, 2007 representing a growth of 48% over the corresponding period last year. Net Profit for the quarter grew 206% to Rs 22.32 crore, while Earnings per Share increased to Rs 2.48 from Rs 0.81 in Q1FY07 (Face value of Rs 2.00 per share).

Segment-Wise Performance

Blue Star performed impressively in all 3 lines of business.

The central and packaged airconditioning business accounted for 60% of total revenues during the quarter. While the revenues of this business grew 49% during Q1FY08, segment profit increased by a healthy 60%. The IT/ITES and Retail segments were big growth drivers helping the Company to maintain market leadership in the Indian market.

The cooling products business also registered good growth, recording an increase of 42%. The growth was driven by increased sales of split airconditioners as well as refrigeration products and cold chain equipment. Segment profit was up by 75% in the quarter.

The professional electronics and industrial systems business continued to contribute significantly to the profitability of the Company. The business grew by a solid 90% during Q1FY08, while segment profit increased by 386%.

Orders Booked During Q1FY08

The Company booked several prestigious orders during the quarter including orders from:

  • Medicity, Gurgaon
  • DLF, Gurgaon
  • Infosys, All India
  • Microsoft, Secunderabad
  • Reliance Communications, All India
  • Empress City Mall, Nagpur
  • Cosmos Mall, Siliguri
  • SunCity, Jaipur
  • Capgemini, Mumbai
  • HDFC Chubb, Mumbai
  • Vishal Retail, All India
  • Aditya Birla Retail, All India
  • Tata Steel, Jamshedpur

The carry-forward order book position as on June 30, 2007 stood at Rs 984 crore as against Rs 688 crore on June 30, 2006.

Outlook

Ashok M Advani, Chairman and Managing Director, says "Blue Star continues to perform exceptionally well. Business growth has been unprecedented in all 3 segments. With a healthy order backlog and a bright business outlook, this should be a very good year for Blue Star."

It may be recalled that the Company had reported a Net Profit of Rs 71.18 crore on a Total Income of Rs 1607 crore for the year ended March 31, 2007.

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: bthiagarajan@bluestarindia.com Telephone: 66544000.

Blue Star : AC Experts in India offering HVAC and Airconditioning for large offices in India.

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