Blue Star records 46% growth in net profit

Kolkata, May 10(UNI) Central airconditioning and commercial refrigeration major Blue Star has recorded a 46 per cent growth in net profit at Rs. 71.18 crore as the total income jumped by 36 per cent at Rs. 1,607 crore in 2006-07.

The earnings per share (Face value of Rs two) increased to Rs 7.91 from Rs 5.44 as the financial results were announced.

The Directors have recommended a final dividend of Rs. 0.60 per share, over and above the interim dividend of Rs 2.40 paid in March 2007. Thus the total dividend recommended for the financial year equals Rs three per share (Face value of Rs two) representing 150 per cent compared to 120 per cent declared last year, company sources today said.

Improving on the performance in all three lines of business, the company earned 70 per cent of its total revenues from the large central airconditioning segment that recorded 37 per cent growth during the period while the cooling products business also registered impressive 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.

The professional electronics and industrial systems business continued to contribute significantly to the profitability of the Company. The business grew by 30 per cent during the period.

UNI