Blue Star witnessed robust demand for its room air conditioners and commercial refrigeration products during the festive season. The growth momentum during the Q3‘24 was also evident in its commercial air conditioning as well as the electromechanical projects business. This resulted in the company registering a record Q3 in terms of revenue. Further, sustained improvement in its operating margins was made possible due to the company’s continued focus on total cost management, product portfolio optimisation and higher scale.
The company’s Revenue from Operations increased by 24.9% to Rs 2241.19 crores for the quarter ended Dec 31, 2023, compared to Rs 1794.17 crores during the same period the previous year. The Operating Profit (PBIDTA excluding Other Income) for the quarter improved significantly to Rs 155.35 crores (6.9% of Revenue) compared to Rs 104.71 crores in Q3FY23 (5.8% of Revenue) driven by enhanced scale and higher gross margins. Other Income including treasury income for Q3FY24 was Rs 12.67 crores compared to Rs 5.16 crores in Q3FY23. The Tax expense for the quarter was Rs 33.93 crores compared to Rs 21.64 crores in Q3FY23. Profit Before Exceptional Items grew by a significant 67.9% to Rs 134.39 crores during the quarter compared to Rs 80.05 crores in the same period of the previous year.
