Page 3 - Blue Star

Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore

Air conditioner and commercial refrigeration system maker Blue Star Ltd on Thursday reported a 29 per cent decline in its consolidated net profit to Rs 159.71 crore for the fourth quarter of 2023-24. The company had reported a net profit of Rs 225.29 crore in the January-March quarter of FY2022-23, a regulatory filing showed. Blue Star's total income increased to Rs 3,340.16 crore in the quarter under review from Rs 2,830.48 crore in the January-March period of the previous fiscal. Its total expenses were also higher at Rs 3,126.38 crore in the fourth quarter of 2023-24, compared with Rs 2,485.46 crore in the corresponding period last year. "The company has reported Revenue from Operations of Rs 9,685.36 crore for the year ended March 31, 2024, compared to Rs 7,977.32 crore during FY23, representing growth of 21.4 per cent," Blue Star Ltd stated. It further informed that the net profit for the year was Rs 414.31 crore compared to Rs 400.69 crore in FY23. During the previous year, t

Blue Star expects 25% growth in sales of residential AC in June quarter

Homegrown cooling products maker Blue Star on Tuesday said it expects up to 25 per cent growth in sales of residential AC in the June quarter, the period which accounts for the highest number of sales due to the temperature rise and heat wave. The company has already witnessed up to a 40 per cent year-on-year increase in sales of AC in March from the Southern region, where sales of cooling products start early, Blue Star Managing Director B Thiagarajan said. "Our goal is to reach the market share of 15 per cent in FY25. So we are working towards that, we have another 11 months to go," Thiagarajan said. To woo customers in its fold, Blue Star, which launched a new range of over 100 affordable and premium models of AC on Tuesday, plans to invest over Rs 40 crore in advertising during the summer season. Blue Star is witnessing a significant demand coming from the burgeoning middle-class consumers with higher disposable incomes and the category becoming more of a necessity than a ...

With mercury rising, analysts foresee summer surge for consumer durables

IMD forecasts that most parts of the country will experience hotter-than-average temperatures from March through May, leading to an uptick in the frequency of heatwave days

Blue Star bets big on 'harsh' summer to cross 1 million mark in sales

'Rural markets key growth driver, contributing to 65% sales'

Blue Star Q3 results: Profit jumps to Rs 100 cr on strong festive demand

The company posted a consolidated net profit of Rs 100 crore ($12 million) for the three months ended Dec. 31, up nearly 72% from last year. Revenue from operations rose about 25%

Pent-up demand fuels Blue Star's air conditioners sales growth by 30%

Robust demand from Tier-III and Tier-V towns spurs growth

Blue Star Q2 results: Profit jumps 66% to Rs 70.67 cr on strong demand

The company posted a consolidated net profit of Rs 70.67 crore for the quarter ended Sept. 30, up over 66% from last year. Revenue from operations rose 19.5%

Stocks to Watch today: ICICI Bank, Hudco, NDTV, ABFRL, Samvardhan, Paytm

Stocks to Watch on Monday, October 23, 2023: Paytm said its revenue increased 32 per cent YoY to Rs 2,519 crore in the second quarter, with its consolidated net loss narrowing to Rs 291 crore

Tailwind ahead for consumer durables sector during festival season

There are hopes of better offtake and margin gains

Blue Star surges 15%, hits record high on launch of Rs 1,000 cr QIP issue

The company proposed to raise around Rs 1,000 crore at a floor price of Rs 784.55 per equity share.

Blue Star launches QIP to raise Rs 1,000 cr, floor price at Rs 784.55

Leading cooling products maker Blue Star on Monday launched its qualified institutions placement (QIP) offer with a floor price of Rs 784.55 per equity share to raise Rs 1,000 crore to support its growth plans. The floor price is 2.04 per cent lower than Rs 800, the price on which the scrips of Blue Star closed on BSE on Monday. The Executive Management Committee at its meeting held on Monday considered and approved the issue's opening on September 18, 2023. It also approved "the floor price for the Issue, being Rs 784.55 per Equity Share, based on the pricing formula, as prescribed under the SEBI ICDR Regulations". The equity shares have a face value of Rs 2 each, according to a regulatory filing by the company. Moreover, in accordance with the approval of the shareholders accorded through a special resolution on September 15, 2023, "the company may at its discretion offer a discount of not more than 5 per cent on the floor price so calculated for the Issue", it added. A meeting

Blue Star Q1 profit rises over 12% on robust sales, revenue up 12.6%

BENGALURU (Reuters) - Indian air conditioner maker Blue Star on Thursday reported an over-12% rise in first-quarter profit, as a warmer summer led to a rise in sale of air conditioners

Untimely rains dent summer sales; to keep durable stocks in check: Analysts

Analysts expect the stocks to remain weak in the near-term as lower sales offtake will lead to companies missing their earnings estimates for the April-June quarter (Q1FY24)

Option for arbitration in agreement not binding on parties: HC observation

Court ruling relates to dispute between two parties over non-payment of invoices for operation and maintenance

As the mercury soars, hiring of temp workers for cooling products rises too

This is despite the relatively late onset of summers thanks to the unexpected rains in March and April in North India

Blue Star targeting to double exports within 3 years, says top official

Blue Star Ltd is targeting to double its exports within three years as the company looks to expand its international footprint. Blue Star Managing Director B Thiagarajan said the company's exports are worth around Rs 800 crore at present and would like to double these within three years. According to Thiagarajan, the company is going to expand its international footprint. "We were only in the Middle East (earlier). This year, we have opened an office in the US, Japan, and Europe. So, we want to enter these markets," he said. "You know China plus one strategy. People want to look at India other than China. Under that, we are exploring these markets. Today, we do exports of around Rs 800 crore, we would like to double it within three years," Thiagarajan told PTI here. The AC market in the US and Europe is very big compared with India, he noted. This year, the company has also bagged a "major order from Bengaluru metro, worth more than Rs 500 crore", he added. On the company's plan

Blue Star targets to achieve 15% market share by FY25 in room AC segment

Blue Star Ltd is targeting to achieve a market share of 15 per cent by FY2025 in room air conditioners segment, according to company's Managing Director B Thiagarajan. The air-conditioning and commercial refrigeration major is also targeting to sell one million units this year as against over 8 lakh last year. They are targeting a market share of 15 per cent from present 13.5 per cent, Thiagarajan said here on Tuesday. Blue Star is also eyeing a good growth from the north Indian markets, including Punjab and Jammu and Kashmir. In J&K, the company commands a market share of 14 per cent, he said. He was interacting with reporters here after unveiling Blue Star Ltd's comprehensive range of air conditioners, including "best-in-class affordable" range and a "flagship premium" range, for the summer season. Overall, the company has launched nearly 75 models across the spectrum of inverter, fixed speed and window air conditioners, and across price points to cater to every consumer ...

Unlikely weather in the north hits AC, ice cream, soft drink business

Manufacturers are worried as they have large stocks in place and due to lower demand the inventory of dealers is also rising

Blue Star rallies 5% on 1:1 bonus plan; 3-fold jump in Q4 net

The company's net profit jumped to Rs 225 crore in Q4FY23 from Rs 76 crore a year ago, aided by profit from sale of freehold land.

Blue Star posts 3-fold jump in Q4 profit to Rs 225 cr, revenue from ops up

Air conditioning and commercial refrigeration firm Blue Star Ltd on Thursday reported nearly three-fold rise in consolidated net profit at Rs 225.29 crore in the fourth quarter ended March 31, 2023, aided by profit on sale of freehold land. The company had posted a consolidated net profit of Rs 76.27 crore in the same quarter previous fiscal, Blue Star Ltd said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 2,623.83 crore as compared to Rs 2,254.21 crore in the year-ago period, it added. During the quarter, the company said it had registered Rs 170.81 crore profit on sale of freehold land, which was classified as asset held for sale in the previous year, and the same has been reported as an exceptional item. Total expenses in the fourth quarter were higher at Rs 2,485.45 crore as compared to Rs 2,147.24 crore in the same period a year ago. For the fiscal ended March 31, 2023, consolidated net profit was at Rs 400.69 crore a