 "Blue Star gains 9% in early trade but pare gains soon after posting Q3 nos")
Blue Star shares rose 9.3 per cent on Thursday, logging an intraday high at Rs 1,997.4 per share. However, the stock pared gains soon and slipped 3 per cent to an intraday low of Rs 1,772.15 per share. The stock moved after the company posted its Q3 results.
Around 12:30 PM, Blue Star share price was down 1.09 per cent at Rs 1,807.35 per share on BSE. In comparison, the BSE Sensex was up 0.38 per cent at 76,824.96. The market capitalisation of the company stood at Rs 37,161.79 crore. The 52-week high of the stock was at Rs 2,419.95 per share and the 52-week low was at Rs 1,093.65 per share.
On Wednesday, after market hours, Blue Star reported a consolidated net profit of Rs 132.57 crore as compared to Rs 100.39 crore a year ago, up 32 per cent.
The revenue of the company rose 25.3 per cent to Rs 2,807.36 crore for the third quarter compared to Rs 2,241.19 crore in the year-ago period.
As per the filing, other Income including treasury income for Q3FY25 was Rs 8.73 crore as compared to Rs 12.67 crore in Q3FY24. Tax expense for the quarter was Rs 46.53 crore as compared to Rs 33.93 crore in Q3FY24.
Carried-forward order book as of December 31, 2024, was at a record high of Rs 6,809.99 crore, as compared to Rs 6,038.53 crore as of December 31, 2023, representing a growth of 12.8 per cent.
Besides, revenue from the electro-mechanical projects and commercial air conditioning systems segment grew by 32.2 per cent to Rs 1,562.41 crore during the quarter compared to Rs 1,182.3 crore in the same quarter of the previous year. Unitary products revenue grew by 21.9 per cent to Rs 1164.36 crore in Q3FY25 compared to Rs 955.38 crore in Q3FY24.
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Blue Star management commentary
Vir S. Advani, chairman & managing director, Blue Star is optimistic about FY25 being yet another remarkable year for the company.
“As we conclude yet another quarter on a strong note, we are hopeful that the growth momentum shall continue owing to the key drivers such as the forthcoming summer season, record carried forward order book, a potential revival in government spending, and increased capex from the private sector," Advani said.
He added: However, challenges such as the depreciation of the Indian Rupee, rising commodity prices, and potential supply chain disruptions may pose obstacles. We have implemented strong mitigation strategies to address these challenges and are confident of continuing to deliver value to our stakeholders.
In the past one year, Blue Star shares have gained 66.2 per cent against Sensex's rise of 7.5 per cent.