The company had posted a profit of Rs 20.54 crore in the same period of previous fiscal, Blue Star said in a statement. Total operating income of the company stood at Rs 770.82 crore in the April-June quarter, compared to Rs 731.42 crore during the same period of previous fiscal.
The strategy of focusing on profitable market segments,entering new markets and geographies through wider distribution and effective cost control initiatives contributed immensely in enhancing margins, it said.
The electro mechanical projects business continues to be under pressure due to the challenging business environment, the cooling products business has been performing well, driven by the room airconditioners business, it added.
Commenting on the future outlook, it said: "The sharp depreciation of the rupee coupled with the difficult economic outlook are concern areas." Blue Star had returned to profitability during last financial year and the momentum is continued in the first quarter of this current fiscal, the company said.
Shares of the company closed at Rs 159.05, up 2.78 per cent from its previous close on the BSE.
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Blue Star Q1 profit rises 11 per cent to Rs 22.77 crore
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