Thursday, Dec 9 2021 | Time 12:31 Hrs(IST)
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Business Economy


Blue Star Q2 results: AC maker posts net profit of Rs 31.45 Cr

Mumbai, Oct 28 (UNI) Air conditioning and commercial refrigeration maker Blue Star on Thursday reported a net profit of Rs 31.45 crores during second quarter ended September 2021 compared to Rs 15.40 crores in Q2 of FY21.

The company’s Revenue from Operations increased by 37.4 per cent to Rs 1239.74 crores for the quarter ended September 30, 2021, on a consolidated basis, compared to Rs 902.12 crores during the same period in the previous year.

The Operating Profit (PBIDTA excluding Other Income and Finance Income) for the quarter was Rs 70.70 crores compared to Rs 55.08 crores in Q2FY21.

Other Income (including Finance Income) for Q2FY22 was Rs 8.12 crores compared to Rs 5.86 crores in Q2FY21.

Finance Cost for the quarter decreased to Rs 11.18 crores from Rs 17.85 crores in Q2FY21 due to reduction in borrowings.

The Tax expense for the quarter was Rs 15.99 crores compared to Rs 7.42 crores in Q2FY21.

Earnings per share for Q2FY22 (Face value of Rs 2.00) was Rs 3.27 compared to Rs 1.59 in Q2FY21.

“With the revenue reaching pre-COVID level in Q2FY22, we expect the growth momentum to continue through Q3 and Q4 leading up to the next summer season. The pricing corrections will continue, depending on movement in input costs. At the same time, product cost rationalization through value engineering and alternate designs, as well as operating cost reduction will be undertaken to counter the margin pressure,” Vir S Advani, Vice Chairman and Managing Director, Blue Star Limited, said in a statement.
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