Blue Star Q2 Net Profit up 10%

Financial Performance for the quarter ended September 30, 2009 (Q2FY10)

• Central airconditioning and commercial refrigeration major Blue Star Limited reported Total Income of Rs 563.52 crore for the quarter ended September 30, 2009, as compared to Rs 646.58 crore in Q2FY09.
• Net Profit at Rs 49.44 crore registered growth of 10% compared to Rs 44.95 crore in Q2FY09.
• Operating Margin increased to 11.5% compared to 10.7% in Q2FY09 owing to tight control on operating costs and cost of sales.
• Earnings per share for the quarter (Face value of Rs 2.00) stood at Rs 5.50 vis-à-vis Rs 5.00 in the corresponding quarter of the previous year.
• Carry Forward Order Book as on September 30, 2009 increased to Rs 1815 crore compared to Rs 1555 crore as at September 30, 2008, representing a growth of 17%.

Financial Performance for the half-year ended September 30, 2009 (H1FY10)

• For the half-year ended September 30, 2009, the Company reported Total Income of Rs 1103.33 crore, as compared to Rs 1277.62 crore over the same period in the previous year.
• Net Profit at Rs 90.61 crore increased by 11% compared to Rs 81.36 crore in H1FY09.

Outlook
Ashok M. Advani, Executive Chairman, says, “In spite of unexciting revenues due to the business slowdown, Blue Star produced good results. We maintained record high operating margins by good supply chain management and controlled operating expenses. Finance costs were also substantially lower. There are some early signs that the worst of the economic slowdown is behind us, but it is too early to predict the speed of the recovery. Our carry forward order book is reasonably comfortable and the Company remains lean and efficient, so I am confident about our ability to capitalise on growth opportunities as they develop.”