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Blue Star Q3 Net Profit more than triples to Rs 35.44 crore

Blue Star Limited, the airconditioning and commercial refrigeration major, has announced its unaudited financial results for the quarter ended December 31, 2007.

Financial Performance

Total Income for the quarter ended December 31, 2007 grew by 39% to Rs 514.99 crore compared to the same period last year. Net Profit for the quarter spurted 208% to Rs 35.44 crore compared to Rs 11.50 crore last year.

Cumulative figures for the 9 months ended December 31, 2007 registered Total Income of Rs 1525.90 crore, 44% higher than last year. Net Profit grew 179% to Rs 103.73 crore, while Earnings per share (face value of Rs 2.00 per share) jumped from Rs 4.13 to Rs 11.53 in the same period.

 A major achievement in the current year has been lower cost of sales and well controlled expenses while maintaining high revenue growth. The result is exceptional enhancement of Operating Margin and Net Profit.

Segment-Wise Performance

All 3 business segments continued to expand aggressively showing well distributed and balanced contribution to Blue Star's overall performance.

Central and Packaged Airconditioning systems accounted for 73% of total revenues during the quarter. While the revenues of this business grew 36% during Q3FY08, segment profit increased by a substantial 119%.

Cooling Products also registered impressive growth of 45%, driven by increased sales of split airconditioners, as well as enhanced demand for refrigeration products and cold chain systems. Segment profit spurted 206% in the quarter.

Professional Electronics and Industrial Systems grew by a solid 53% during Q3FY08 while Segment Profit was up 84%.

Outlook

Ashok M Advani, Chairman and Managing Director, says "Blue Star continues to perform exceptionally well with sustained business growth in all 3 segments. We have been able to significantly enhance our margins to cross the milestone of Rs 100 crore of Net Profit in the first nine months itself. I am confident that the Company will end the year on an impressive note."

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

 

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