Blue Star Q1 revenues dip 14% y-o-y at Rs 41 cr

The dull economic situation which continues to affect demand in several market segments, leading to delays in project execution has caused a decline in topline growth of central airconditioning and commercial refrigeration major, Blue Star.

However the company registered a consolidated net profit increase of  13 per cent for the quarter ended June 30, 2009, to Rs 41.17  crore, compared with Rs 36.41 crore in the corresponding quarter of the previous financial year.

The revenue for the first quarter dipped by 14 per cent to Rs 539.81 crore, as compared with Rs 631.04 crore in the corresponding quarter of the previous financial year.

Ashok M Advani, executive chairman, says, “Our continued focus on value engineering and stringent cost control has enabled us to enhance margins and profitability. 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.” 

The company's carry forward book has increased to Rs 1,717 crore for the quarter-ending June 2009 as compared to Rs 1,410 crore as at June 30, 2008, representing a growth of 21 per cent.