Blue Star incorporates subsidiary in Europe

Blue Star announced incorporation of a wholly owned subsidiary, "Blue Star Europe B.V," on 28 November 2022.

Blue Star Europe B.V. is incorporated in Netherlands, Europe and it is yet to commence its business operations. It will be engaged in the business of sale and service of air conditioning, heating and refrigeration equipment.

The share capital of Blue Star Europe B.V. consists of 1,00,000 shares with nominal value of EUR 10 each aggregating to EUR 10,00,000. The company will subscribe to the shares as and when issued at par.

Blue Star is an air-conditioning and commercial refrigeration company. The company conducts various activities, such as electrical, plumbing and fire-fighting services. Its segments include electro-mechanical projects and packaged air conditioning systems, and unitary products.

On consolidated basis, the company's net profit jumped 35.7% to Rs 42.55 crore on 27.1% rise in net sales to Rs 1,576.24 crore in Q2 FY23 over Q2 FY22.

The scrip was down 0.62% at Rs 1213.55 on the BSE.

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