Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 312.81 crores for the quarter ended June 30, 2006 representing a growth of 36% over the corresponding period last year. Net Profit for the quarter grew 45% to Rs 7.30 crores, while Earnings Per Share increased to Rs 4.06 from Rs 2.80.
The central airconditioning business continued to contribute significantly to the overall growth of the Company. This business grew 36% during the quarter over the same period last year. The cooling products business also performed exceptionally well growing 45% during the quarter, and contributing to 36% of the Company's Net Sales.
The Company bagged several prestigious orders during the quarter including orders from Megapolis Mall, Thane; Hester Pharmaceuticals, Mehsana; Satyam Phase V, Bangalore; Franklin Templeton, Secunderabad; Ascendas Intl Tech Park, Chennai; AB Motions, Ludhiana; DLF Cyber, Gurgaon and Infinity Benchmark, Kolkata. The carry-forward order book as of June 30, 2006 at Rs 688 crores represents a 72% improvement over the previous year.
Ashok M Advani, Chairman adn Managing Director adds "Blue Star has performed exceptionally well on all fronts. Although central airconditioning remains our biggest business, cooling products have also grown impressively. Blue Star's leadership position, reputation and brand equity, have helped us continue to be the preferred choice for customers seeking expert solutions. While the rise in input costs of steel, copper and other metals remains a challenge, we have largely offset these with a focus on value engineering and a marginal increase in selling prices. I am confident that the Company will continue its momentum of profitable growth."
It may be recalled that the Company had reported a Net Profit of Rs 48.90 crores on a Total Income of Rs 1178.62 crores for the year ended March 31, 2006. The Company continued its trend of attractive dividends by declaring a dividend of 120%.
For additional information, please contact: B Thiagarajan, Vice President, Airconditioning and Refrigeration Service, Blue Star Limited, Bandbox House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030, email: firstname.lastname@example.org, Telephone: 66544000