Blue Star Q4 earnings on May 4; board to consider bonus issue of shares

Air conditioners and industrial coolers maker Blue Star Ltd on Monday said its board of directors would consider the proposal for issuance of bonus shares to the shareholders on May 4. The company will also announce its earnings for the March 2023 quarter and for the fiscal on Thursday this week.

Blue Star logged a 23 per cent rise in consolidated profit after tax to Rs 58.41 crore for the quarter ended December 31, 2022 against a consolidated profit after tax of Rs 47.50 crore in the year-ago period. Sales during the third quarter rose 18.72% to Rs 1788.20 crore from Rs 1506.22 crore a year ago.

For the fiscal ended March 2023, the firm reported a 67.13% rise in profit to Rs 167.71 crore against a profit of Rs 100.35 crore in the previous fiscal. Sales grew 41.80% to Rs 6045.58 crore in the March 2023 fiscal against Rs 4263 crore sales in the March 2022 fiscal.

Equity market is closed on May 1 (today) on account of Maharashtra Day. In the previous session on Friday, the stock closed 0.53% higher at Rs 1476.90 on BSE. The Blue Star stock opened higher at Rs 1478.95 against the previous close of Rs 1469.15 on BSE.

Total 0.13 lakh shares of the firm changed hands amounting to a turnover of Rs 1.94 crore in the previous session. Shares of Blue Star have risen 24 per cent in 2023 and climbed 30% in a year.

The market cap of Blue Star rose to Rs 14,224 crore on BSE. The stock hit a 52-week low of Rs 860 on July 4, 2022 and a 52 week high of Rs 1535.50 on March 10, 2023.  

Blue Star Limited is an air-conditioning and commercial refrigeration company. The company operates through three segments: Electro-Mechanical Projects and Commercial Air Conditioning Systems, Unitary Products and Professional Electronics and Industrial Systems.

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