Air conditioner maker Blue Star today reported a 3.95 per cent rise in its consolidated net profit at Rs 20.78 crore for the September quarter.
It had posted a consolidated net profit of Rs 19.99 crore in the July-September quarter a year ago, it said in a BSE filing.
Blue Star's total income on a consolidated basis during the quarter under review declined 7.46 per cent to Rs 840.22 crore as against Rs 907.99 crore in the corresponding quarter last fiscal.
"The electro-mechanical projects business has shown modest signs of improvement in some markets and application segments, though the overall market is yet to pick up," said Blue Star Chairman Suneel Advani.
"While the room air conditioners business continues to drive the unitary products segment, we are making planned investments in consumer business lines such as water purifiers, air purifiers and air coolers, which will help to drive growth in the future," said Advani.
"While the GST roll out on July 1, 2017 has adversely impacted some of the businesses during the first half of the year, we expect to sustain our growth momentum for the remainder of the year," he added.
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