Excellent Financial Performance

Central Airconditioning and commercial refrigeration major, Blue Star Limited has reported a Net Profit of Rs 11.11 crores for the 9-month period ended December 31, 2002 on a Total Income of Rs 374.49 crores. While Total Income climbed by 13%, Net Profit grew by 42% in comparison with the corresponding figures for the previous year. For the quarter ended December 31, 2002, Total Income grew by 16% to Rs 114.95 crores. Net Profit grew nearly four times to Rs 3.38 crores.

Blue Star Consolidates Leadership Position

The Company provides a wide range of cooling solutions to a large number of Corporate and commercial customers with a comprehensive range of airconditioning, as well as commercial refrigeration equipment including cold storages, deep freezers and water coolers. It has strengthened its leadership in most of the market segments.

Buy-Back Scheme To Close On February 3, 2003

The equity buy-back scheme visualizing purchase of a maximum of 50,00,000 equity shares of Rs 10/- each, being 25% of the total equity share capacity, at a price not exceeding Rs 75/- per equity share from the open market through stock exchanges will close on February 3, 2003. The Company has bought back 21,29,196 equity shares of Rs 10/- each at an average price of Rs 64.55 share as on 31.12.02.