Five-fold increase in Blue Star's Q2 net at Rs 19 cr

Air conditioning company, Blue Star Ltd has posted over five-fold increase in its consolidated net profit at Rs 19.30 crore for the quarter ended September 30, 2016 as compared to Rs 3.76 crore for the corresponding quarter last year.

Total consolidated income from operations of the company, however, has only marginally jumped to Rs 897.82 crore for July-September quarter of 2016 as against Rs 847.09 crore for the same quarter previous year.

"The residential and light commercial segments demonstrated healthy growth and are expected to continue the growth trend with enhanced spending by consumers. The electro-mechanical business environment continued to remain sluggish, but is exhibiting positive traction since some categories and segments showed signs of turnaround and improvement," the company said in a release.

Blue Star intends to continue to make investments in manufacturing, marketing, brand building, product development as well as human resources in the next few quarters in order to capitalise on the imminent growth opportunities.

During the period, employees' benefit expenses declined to Rs 86.24 crore from Rs 107.55 crore reported in the second quarter of the last financial year.