The company had posted a net profit of Rs 91.58 crore in the April-June quarter a year ago, Blue Star said in a BSE filing.
Line 3 of the Mumbai Metro, also known as the Colaba-Bandra-SEEPZ line, is partially funded by JICA and is the longest continuous underground metro stretch in the country.
The order is valued approximately at Rs 253 crore, which is subject to the definitive agreements to be executed between the company and MMRCL
The company, which sold 70,000 units of water purifiers since 2016, was also eyeing to retail 1.20 lakh units, Blue Star Ltd managing director B Thiagarajan said.
We initiate coverage on it, with a target price of Rs 947. For FY19-21, we model 14/26 percent CAGRs in revenue/PAT, with no major rise in net working capital required.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 56 points or 0.49 percent. Nifty futures were trading around 11,482-level on the Singaporean Exchange.
The pending order book at end-Q4 FY19 across its MEP business was Rs 2,430 crore, up 16 percent YoY. FY19 orders were Rs 2,950 crore, up 19 percent YoY
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32 points or 0.27 percent. Nifty futures were trading around 11,688-level on the Singaporean Exchange.
The Mumbai-based company currently has an annual capacity of 5 lakh units at its Sirmaur, Himachal plant.
The company is witnessing healthy sales in the southern market this season, and expects a similar demand from northern and other regions because of harsh summer and pent up demand.
B Thiagarajan, who was the joint managing director, has been elevated to the position of managing director.
Haribhakti succeeds Suneel Advani, who will be retiring from the board end March and will become the chairman emeritus, the company said in a statement.
Blue Star's total expenses were at Rs 1,087.98 crore as against Rs 914.19 crore a year ago, up 19.01 per cent.
Strong execution of electro-mechanical projects offset the disadvantage of weak AC sales in the quarter gone by.