Blue Star Q3 consolidated net up 34%

Blue Star today reported a 33.6% growth in consolidated net profit at Rs 4.69 crore in the quarter ended December 31, 2014.

Net profit stood at Rs 3.51 crore in the corresponding period of the previous fiscal.

Profit before tax of the company went up by 39.5% to Rs 6.85 crore from Rs 4.91 crore in the year-ago period. Ebitda (earnings before interest, taxes, depreciation and amortisation) grew by 40.9% in the third quarter to Rs 8.20 crore from Rs 5.82 crore a year ago.

However, total revenue during Q3 dipped marginally by 1.17% to Rs 66.58 crore from Rs 67.37 crore a year ago. Total operating income fell slightly, to Rs 67.04 crore from Rs 68.33 crore in Q3 of the last fiscal.

The cmpany's standlone net profit saw almost flat growth and stood at Rs 3.24 crore (versus Rs 3.29 crore).

"Our revenue mix improved during the period as we got more services businesses when compared to more of licence deals a year ago. Also, we have given up certain loss-making projects which improved our bottomline even though the topline growth has partially come down," Blue Star Chief Finance Officer and Company Secretary Aloke Ghosh told PTI.

Foreign exchange rates have been favourable for Blue Star during the period as it got more profitable businesses from other geographies, he added.