Central air-conditioning and commercial refrigeration major Blue Star recorded a dip in its net profit growth by 9 per cent at Rs 32 crore for the third quarter ending December 2008, from Rs 35 crore for the corresponding quarter last year.
The revenue of the group grew 10 per cent to touch Rs 567 crore as compared to Rs 515 crore for the same quarter a year ago.
The results include the results of the Electrical Contracting business acquired from Naseer Electricals on January 24, 2008, and to that extent are not comparable with the results for the quarter ended December 2007.
Ashok Advani, chairman and managing director of the company, says, “In spite of a healthy carry forward order book at Rs 1,626 crore, the liquidity crunch and economic downturn have affected demand in several market segments. This has led to delays in project execution and slowed revenue growth. Though the economic outlook appears to be uncertain over the next few quarters, I am confident that our tight controls and operational improvements will see us through this difficult period and improve our competitiveness for the future.”
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Central air-conditioning and commercial refrigeration major Blue Star recorded a dip in its net profit growth by 9 per cent at Rs 32 crore for the third quarter ending December 2008, from Rs 35 crore for the corresponding quarter last year.
