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Blue Star Q1 Total Income up 25% Net Profit up 36%

Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 178.60 crores for the quarter ended June 30, 2004 representing a growth of 25% over the corresponding period last year. Net Profit for the quarter grew 36% to Rs 3.61 crores, while Earnings Per Share increased to Rs 2.01 from Rs 1.47. The carry-forward order book as of June 30, 2004 at Rs 447.20 crores represents a 36% improvement over the previous year.

The Company bagged several prestigious orders during the quarter including orders from Microsoft, Hyderabad; Airport Authority of India, New Delhi; HCL Technologies, Chennai; Delhi Metro Railway Corpn, New Delhi; Kanbay Software, Pune; Garuda Mall, Bangalore; Hutch Essar Telecom, Delhi; Divyasree, Bangalore and Satyam Computers, Chennai.

Ashok M Advani, Chairman & Chief Executive adds "The Company's impressive performance is attributed to our focus on profitable growth and efficient use of resources. The macro economic conditions are favourable with increased investments in infrastracture projects and substantial growth in the services sector. In fact, the central airconditioning business of the Company for the quarter recorded a 56% growth over the previous year. I am optimistic about the outlook of the Company in the years to come."

It may be recalled that the Company had reported a Net Profit of Rs 32.55 crores on a Total Income of Rs 716.06 crores for the year ended March 31, 2004. The Company continued its trend of attractive dividends by declaring a dividend of 90%.

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