Stock Market update: Blue Star shares up by 7% post Q3 results

The company has announced a surge of 61.37% in its net profit at Rs 38.05 crore for the third quarter.

Shares of Blue star Ltd surged to 7.49 per cent at Rs 981 apiece (+68.30) today at 10:30 am IST on the National Stock Exchange after the declaration of the third-quarter earnings by the company.

The company has announced a surge of 61.37% in its net profit at Rs 38.05 crore for the third quarter understudy against the Rs 23.58 crore for the same quarter in the last fiscal. The total income of the company rose by 30.37% at Rs 1339.95 crore for Q3FY22 against the Rs 1027.79 crore for the last quarter in the fiscal.

Advertisement

Meanwhile, on a consolidated basis, the company has announced a growth of 29.37% in its net profit at Rs 47.57 crore for the quarter under analysis against the Rs 36.77 crore for the same quarter in the previous fiscal. The total income of the company surged by 34.24% at Rs 1519.60 crore for Q3FY22 against the Rs 1131.98 crore for the last quarter in this fiscal.

However, B Thiagarajan, Managing Director Blue Star Ltd had earlier made it clear that he believes that 2022 will put the tone for supply chain modification, and the air conditioner market is surely coming up to be super competitive.

According to Thiagarajan, a key contributor to this is the Product Linked Incentive Scheme for white goods launched in February 2021. The production associated incentive is given on the excess sales made by the applicants and given the steep numbers that have applied under the scheme.