Air conditioner and commercial refrigerator maker Blue Star has reported 29.37 percent rise in consolidated net profit at Rs 47.57 crore for the third quarter ended December 2021.
The company had clocked a net profit of Rs 36.77 crore in the October-December period a year ago, Blue Star stated.
Revenue from operations was up 34.01 percent to Rs 1,506.22 crore during the quarter under review as against Rs 1,123.89 crore in the year-ago period, the company added.
"Consolidated revenue from operations and revenue from each of the segments for the quarter surpassed revenue achieved in the pre-pandemic period. However, increase in commodity prices, cost of raw materials and ocean freight continued to exert pressure on gross margins," said Blue Star in a post earning statement.
Commenting on the outlook, Blue Star stated, “The disruption in the month of January 2022 due to the third wave of the pandemic was moderate and we expect the economic activities to once again gain momentum from the last week of February. We anticipate that the peak selling months commencing March will not be impacted.”
Shares of Blue Star on Thursday settled at Rs 1,000.75 apiece on BSE, up 9.73 percent from the previous close.