Blue Star income up by 24%

By Our Corporate Bureau | 23 Jul 2003

New Delhi: Blue Star Ltd, a central air-conditioning and commercial refrigeration major, has reported a total income of Rs 142.48 crore for the quarter ended 30 June 2003, a year-on-year growth of 24 per cent.

The company''s net profit increased to Rs 2.65 crore from Rs 2.35 crore in the previous year.

Says Blue Star chairman and chief executive Ashok M Advani: "We are back on the growth path, and the macroeconomic conditions are generally favourable. The new order inflow has grown by 29 per cent during the quarter ended 30 June 2003, and I expect the trend to continue. Blue Star will be completing 60 years in September 2003, and I am optimistic about the outlook for our diamond jubilee year."

Blue Star has declared a special diamond jubilee dividend of 25 per cent in addition to the normal dividend of 65 per cent, making a total of 90 per cent.

The company had reported a net profit of Rs 31.04 crore for the year ended 31 March 2003 on a total income of Rs 601.06 crore.