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Blue Star posts Q2 profit at Rs 70.77 crore, up 66% on-year aided by air conditioners demand, strong order book

Air conditioning and commercial refrigeration firm Blue Star Ltd recorded Q2 profit at Rs 70.77 crore, up 66 per cent as against Rs 42.64 crore during the second quarter of FY23. The profit was driven by renewed demand for its room air conditioners after the summer season which was impacted due to unseasonal rains  and also a strong order book. It posted revenue from operations at Rs 1890.40 crore, up 19.5 per cent in comparison to Rs 1582.29 crore during the same period last year. While the total income during the quarter was at Rs 1903.36 crore, total expenditure during the quarter in review was at Rs 1808.37 crore.

“The corporate and commercial businesses continued to grow at a healthy pace. Moreover, margin improved across business segments due to the company’s continued focus on total cost management and stability in commodity prices and exchange rates. Further,  witnessed healthy order inflow and consequently ended the quarter with a record carried forward order book,” it said in a statement. Carried-forward order book as of September 30, 2023, grew significantly by 44.4 per cent to Rs 6008.52 crore, as compared to Rs 4162.05 crore as of September 30, 2022.

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