Blue Star posted a lacklustre set of earnings in Q2 as air conditioner (AC) business margins fell and electro-mechanical projects business revenue declined by 7 percent; the management says the overall market is yet to pick up.
In an interview to CNBC-TV18, Vir Advani, MD of Blue Star elaborated on the numbers and gave his outlook for the future.
Revenue was flat at Rs 840 crore but EBITDA grown by about 14 percent to Rs 46 crore, said Advani.
He further said that Q2 has not been a great quarter largely on account of goods and services tax (GST).
Talking about order book, he said it stands at Rs 2,120 crore currently.
As far as room air conditioners are concerned, volume grew 5 percent for the company, the market grew zero, he said.
"The water purifier business has got a good start, we are very happy with the results so far in H1 and we are looking forward to a good full year for the business," he added.
Watch accompanying video for more details.
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