Financial Press Releases
Blue Star Q2 Net Profit up 59%. Total Income up 32%.

Central airconditioning and commercial refrigeration major Blue Star has reported a Total Income of Rs 376.72 crores for the quarter ended Sep 30, 2006 representing a growth of 32% over the corresponding period last year. Net Profit for the quarter grew 59% to Rs 18.40 crores, while Earnings Per Share for the quarter increased to Rs 2.05 from Rs 1.29.

For the half year ending Sep 30, 2006, Total Income stood at Rs 689.53 crores registering a growth of 34% over the corresponding period last year. Net Profit grew 54% to Rs 25.69 crores.

The central airconditioning business continued to contribute significantly to the overall growth of the Company. During the quarter, this business grew 32% over the same period last year and contributed to 73% of the Company’s Net Sales. While the cooling products business performed well growing 20% during the quarter, the Professional Electronics and Industrial Equipment business grew significantly by 98%.

The Company bagged several prestigious orders during the quarter including orders from Nagpur International Airport; Loreal, Pune; Delhi Institute of Liver & Billary Sciences, New Delhi; Glaxo Smithkline Beecham, Nasik; City Mall, Raipur; Alps Hospital, Gurgaon and Zydus Cadila, Sikkim. The carry-forward order book as of Sep 30, 2006 at Rs 788 crores represents a 45% improvement over the previous year.

Ashok M Advani, Chairman & Managing Director adds "The Company continues to sustain its momentum of high growth in all business segments. We have also been able to significantly enhance our profitability by focusing on prudent value engineering and cost control measures. While availability of skilled technical manpower is a concern area for the industry, our values and beliefs and our work culture has helped us immensely to attract and retain talent. I remain optimistic about the business outlook."

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.

For additional information, please contact: B Thiagarajan, Executive Vice President, Blue Star Limited, Band Box House, 254D, Dr Annie Besant Road, Worli, Mumbai - 400 030

email: bthiagarajan@bluestarindia.com, Telephone: 66544000

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