Blue Star posts net profit of Rs 18.55 cr for Q4 FY13

Air conditioning and commercial refrigeration major Blue Star today posted net profit of Rs 18.55 crore for Q4 FY13 as against a net loss of Rs 45.37 crore registered during the same period last year.

The company's total operating income at Rs 858.24 crore increased by 5 percent over the same period last year, a company statement said here. Operating profit for the quarter was Rs 19.92 crore compared to an operating loss of Rs 37.40 crore in Q4 FY12. Also Read: Reliance Power Q4 cons net profit flat at Rs 266 cr
On a consolidated basis, total operating income stood at Rs 2,924.01 crore for the year ended March 31, 2013. The consolidated financial results include the results of the company's wholly owned subsidiary Blue Star Electro Mechanical, joint ventures namely, Blue Star M&E Engineering SDN BHD, Malaysia, Blue Star Qatar (WLL) and Blue Star Design & Engineering Limited and the share of profit in the associate company Blue Star Infotech Ltd.
Operating profit (PBIDT excluding other non-operating income) for the year was Rs 90.40 crore as compared to an operating loss of Rs 22.18 crore in FY12. Net profit stood at Rs 39.07 crore for the year as compared to a net loss of Rs 105.10 crore registered last year.
Commenting on the future outlook, the company said the corrective steps taken in the previous year are showing results. The company's effort to drive margins through price increases, value engineering, prudent working capital management and cost control coupled with a focus on improving the quality of new orders, helped it return to profitability during the year.
While the electro mechanical projects business will continue to be under pressure over the next few quarters due to the challenging and uncertain business environment, the cooling products business is likely to perform well during the summer season. The Company intends to further enhance these efforts in order to sustain this performance over the current year as well, it said.