Financial Press Releases
Blue Star Q2 Net Profit up 150% Total Income up 46%.

Financial Performance

Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 548.59 crore for the quarter ended September 30, 2007 representing a growth of 46% over the corresponding period last year. Net Profit for the quarter grew 150% to Rs 45.97 crore, while Earnings per Share increased to Rs 5.11 from Rs 2.05 in Q2FY07 (Face value of Rs 2.00 per share).

For the half year ending September 30, 2007, Total Income stood at Rs 1010.91 crores registering a growth of 47% over the corresponding period last year. Net Profit grew 166% to Rs 68.29 crore.

Segment-Wise Performance

Blue Star performed impressively in all 3 lines of business.

The central and packaged airconditioning business accounted for 73% of total revenues during the quarter. While the revenues of this business grew 46% during Q2FY08, segment profit increased by a substantial 115%. The current construction boom coupled with Blue Star’s strengths in manufacturing, contracting and after-sales service helped the Company maintain its leadership position in the Indian market.

The cooling products business also registered good growth, recording an increase of 48%. The growth was driven by increased sales of split airconditioners as well as refrigeration products and cold chain equipment. Segment profit spurted 300% in the quarter.

The professional electronics and industrial systems business continued to contribute significantly and grew by an impressive 37% during Q2FY08.

Orders Booked During Q2FY08

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

Ahmedabad Airport

Thiruvananthapuram Airport

Pantaloon Retail, Bangalore

Cognizant Technologies (Cee Dee Yes Builders), Coimbatore

Bengal Greenfield, Kolkata

RBI, Guwahati

DuPont, Secunderabad

Bengal Peerless, Kolkata

Moser Baer, Noida

HCL Technologies, Gurgaon

Aircel, Chennai

Haryana State Agri Marketing Board (HSAMB), Gurgaon

2 Square Mall, Kolkata

The carry-forward order book position as on September 30, 2007 stood at Rs 1031 crore as against Rs 788 crore on September 30, 2006.

 Outlook

Ashok M Advani, Chairman and Managing Director, says “Blue Star continues to grow aggressively this year in all its three lines of business. We have been able to significantly enhance our margins to virtually achieve last year’s full year Net Profit in the first six months itself. With a healthy order backlog and a promising outlook, I remain confident about this year being another great 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.

 

 

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