The firm's revenue from operations increased to Rs 1,249 crore for the three months ended September 2019 on a consolidated basis, compared to Rs 1,032 crore during the same period in the previous year
Blue Star has announced the launch of a room air conditioner that comes with an in-built air purifier.
With the penetration of room air conditioners in India as low as 5-6%, the room ACs market continues to offer abundant opportunities for Blue Star, the company said. The company claims to have already made inroads into tier III, IV and V towns that together makes up more than 60% of its sales.
Going ahead, Blue Star aims to penetrate deeper into various customer segments and geographies, and grow its market share with a wide array of innovative products across various price points.
The company’s revenue from operations increased to Rs 1,249.47 crore for the three months ended September 2019 on a consolidated basis, compared to Rs 1,032.20 crore during the same period in the previous year. Net profit for the quarter stood at Rs 37.94 crore against Rs 19.55 crore in Q2 FY19, a 94% growth.
Share price of Blue Star on Thursday ended at Rs 790 apiece on the BSE, down 0.03%.
“Considering that summers in India are severe, and that air pollution is also a matter of serious concern in most metros, this single product which serves the dual purpose of cooling and purifying at the same time is definitely expected to gain significant traction, especially in the residential and light commercial segments, in the coming months,” managing director B Thiagarajan said.
Blue Star, which currently has 200 exclusive brand stores in the country, plans to increase it to 250 stores by the end of FY20.