Blue Star Q2 results: Profit jumps 66% to Rs 70.67 cr on strong demand

Blue Star on Monday reported a jump in second-quarter profit, aided by a steady demand for its air conditioners amid a weak monsoon season, along with a strong order book.

The company posted a consolidated net profit of Rs 70.67 crore for the quarter ended Sept. 30, up over 66% from last year. Revenue from operations rose 19.5%.

The September quarter has been seasonally weaker for cooling-product makers as the arrival of monsoon provides relief from the scorching Indian summer. However, a weaker monsoon this year has led to a relatively steadier demand for fans and air conditioners, helping companies like Blue Star.

Additionally, analysts said Blue Star would benefit from the execution of its strong order book. The company said its carried forward order book grew 44.4% year-on-year to Rs 6,009 crore.

Blue Star, which has seen a sharp rise in order inflows following a revamp of its portfolio and foray into railway electrification, in August said the government's push in manufacturing was driving growth in its commercial segment.

Rival Havells India earlier this month posted second-quarter profit of Rs 249 crore, up 33% year-on-year.