Blue Star board to consider proposal for issuance of bonus shares on May 4

Air conditioning and commercial refrigeration firm Blue Star Ltd is planning to consider a proposal for the issuance of bonus shares, said the company in a regulatory filing. The decision will be taken in the board meeting to be held on May 4, 2023.

The company is scheduled to announce its earnings for the March quarter on Thursday.

The company, on Monday, said in a regulatory filing, “Further to our letter dated March 27, 2023, with respect to the intimation of the date of the Board Meeting scheduled to be held on Thursday, May 4, 2023, we hereby inform you that the Board of Directors in the said meeting would also consider the proposal for issuance of Bonus Shares to the shareholders of the Company.”

On April 28, the stock ended up nearly 0.53% higher at Rs 1,476.90 on the BSE.

On 31 January 2023, Blue Star Ltd reported a 22.79 per cent rise in consolidated net profit at Rs 58.41 crore in the third quarter ended December 2022. The company had posted a consolidated net profit of Rs 47.57 crore in the same quarter last fiscal, it said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 1,788.2 crore as against Rs 1,506.22 crore in the year-ago period, it added. Total expenses in the reported quarter were higher at Rs 1,712.96 crore as compared to Rs 1,449.64 crore in the corresponding period last fiscal.

Revenue from the electro-mechanical projects and commercial air conditioning systems segment grew by 20.51 per cent to Rs 1,000.09 crore in the third quarter of FY23 compared to Rs 829.85 crore in FY22, the company said.