Blue Star Q2 Net up 20.34% at Rs 9.05 crore

Air conditioner firm Blue Star today said its net profit surged by 20.34 per cent at Rs 9.05 crore in the second quarter ended September 30.
The company had a net profit of Rs 7.52 crore in the corresponding period last fiscal, Blue Star said in a statement issued here.
During the quarter under review, the company posted a total operating income of Rs 637.97 crore compared to Rs 584.98 crore in the year-ago period.
It said the Electro Mechanical Projects and Packaged Airconditioning Systems business, accounting for 62 per cent of the total revenues in the quarter, increased marginally by 3 per cent, while segment results registered a decline of 5 per cent to Rs 19.74 crore, mainly due to higher input costs.

"The erosion in profitability of this business is now under control since legacy orders now form only a small portion of the order book," the company said.
The revenue of cooling products during the quarter increased by 21 per cent, while segment results grew at 74 per cent to Rs 14.17 crore over the same period.

"Though Q2 is typically a lean season for this line of business, an extended summer coupled with stable foreign exchange and commodity prices resulted in enhanced profitability," the company said.
The Professional Electronics and Industrial Systems business revenues increased by 25 per cent, while segment results registered a growth of 16 per cent to Rs 8.76 crore due to enhanced demand.

The carry forward order book as on September 30 declined by 14 per cent to Rs 1,492 crore, compared to Rs 1,744 crore as on the same date last year.