Blue Star clocks a net profit of Rs 71.18 crores

Mumbai, May 9 (UNI) Central air-conditioning and commercial refrigeration major Blue Star posted a net profit of 46 per cent to Rs 71.18 crore for the financial year 2006-07.

The company has announced a dividend of Rs 3.00 per share for its shareholders.

The central air-conditioning business of the company accounting for 70 per cent of total revenues continued to show healthy growth of 37 per cent during financial year 2007.

The cooling products business also registered healthy growth, increasing 37 per cent in the year. The growth was driven by increased sales of split airconditioners as well as refrigeration products and cold chain equipment. Segment profit was up by 78 per cent in the year.

Ashok M Advani, Chairman and Managing Director of the company, said ''Company's leadership position, reputation and brand equity, have helped us to continue to be the preferred choice for customers seeking expert solutions. Lack of skilled technical manpower is a concern area for industry.'' The company bagged important orders during the last quarter of the fiscal which includes Hexaware, Infosys, and Reliance Industries.

UNI