Blue Star Q3 down 23.8% to Rs 4.80 crore

Air-conditioner maker Blue Star today reported a decline of 23.80 per cent in standalone net profit to Rs 4.80 crore for the third quarter ended December 31, 2015.
The company, which is also planning to broaden its product line in related areas such as air coolers and air purifiers, had posted a net profit of Rs 6.30 crore in the same period a year ago, Blue Star informed BSE.
However, the company's total income on standalone basis was up 15.14 per cent to Rs 685.76 crore as against Rs 595.57 crore in October-December period of the previous fiscal.
"The cooling product segment continues to perform well owing to the company's growing range of products, enhanced distribution and strong brand equity," the company said.

Meanwhile, in a separate filing, the company informed that it has appointed Vir S Advani as Managing Director of the company and B Thiagarajan as Joint Managing Director.
"Vir S Advani has been appointed as Managing Director with effect from April 1, 2016 for a period of 5 years, subject to shareholders approval at the ensuing annual general meeting," it said.
Shares of Blue Star today settled at Rs 361.65 per scrip on BSE, up 1.86 per cent from previous close.