Financial Performance For Q1FY10

Central airconditioning and commercial refrigeration major Blue Star Limited reported Total Income of Rs 539.81 crore for the quarter ended June 30, 2009, as compared to Rs 631.04 crore in Q1FY09.

Operating profit (PBIDT excluding Other Income) for the quarter grew 9% to Rs 62.50 crore. Operating Margin increased significantly to 11.6% compared to 9.1% in Q1FY09 owing to tight control on operating costs and cost of sales.

Net Profit at Rs 41.17 crore registered growth of 13% compared to Rs 36.41 crore in Q1FY09.

Earnings per share for the quarter (Face value of Rs 2.00) stood at Rs 4.58 vis-à-vis Rs 4.05 in the corresponding quarter of the previous year.

Carry Forward Order Book as on June 30, 2009 increased to Rs 1717 crore compared to Rs 1410 crore as at June 30, 2008, representing a growth of 21%.

Outlook

Ashok M Advani, Executive Chairman, says, "The dull economic situation continues to affect demand in several market segments, leading to delays in project execution and decline in topline growth. However, our continued focus on value engineering and stringent cost control has enabled us to significantly enhance margins and profitability. Our carry forward order book continues to be reasonable with several newly booked large infrastructure-related jobs which are expected to be executed over the next few quarters. Though the overall economic scenario is not very clear, I am confident that our diverse experience, leadership position and strong credentials will see us through the current conditions and enhance our prospects for the future."

For additional information, please contact: B Thiagarajan, President, Channel Business Group, Blue Star Limited, Bandbox House, 254D, Dr Annie Besant Road, Worli, Mumbai – 400 030 email: btn@bluestarindia.com Telephone: 66544000.