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Blue Star's Consolidated Q2FY20 revenue grows 21% to Rs 1249.47 crores; net profit grows 94% to Rs 37.94 crores

Posted On: 2019-11-13 21:05:24


Consolidated Financial Performance for Q2FY20

- The Company has reported Revenue from Operations of Rs 1249.47 crores for the quarter ended September 30, 2019 on a consolidated basis, compared to Rs 1032.20 crores during the same period in the previous year, a growth of 21%.

- The Operating Profit (PBIDTA excluding Other Income and Finance Income) for the quarter was Rs 73.58 crores compared to Rs 58.07 crores in Q2FY19, a growth of 27%.

- Net Profit for the quarter was Rs 37.94 crores compared to Rs 19.55 crores in Q2FY19, a growth of 94%.

- Other Income (including finance income) for Q2FY20 was Rs 10.60 crores compared to Rs 4.93 crores in Q2FY19. Other income in Q2FY20 was higher on account of higher interest on income tax refunds.

- Finance Cost for the quarter decreased to Rs 6.79 crores from Rs 11.67 crores in Q2FY19 due to effective management of working capital and consequently lower borrowings quantum in Q2FY20 and also due to lower cost of borrowings.

- Tax expense for the quarter was Rs 16.88 crores compared to Rs 7.84 crores in Q2FY19.The Company has decided not to immediately opt for the lower rate of 22% corporate tax owing to the un-availed MAT credit to the tune of Rs 67 crores (consolidated). At the same time, it needed to account for higher tax expense during the quarter on account of increased profitability and unwinding of Deferred Tax Asset created in earlier years.

- Earnings per share for Q2FY20 (Face value of Rs 2.00) was Rs 3.94 vis--vis Rs 2.03 in Q2FY19.

- The Carried Forward Order Book as on September 30, 2019, grew by 32.4% to Rs 2935 crores as compared to the carry forward order book as on September 30, 2018.

Consolidated Financial Performance for the half-year ended September 30, 2019 (H2FY20)

- For the half-year ended September 30, 2019, the Company reported Revenue from Operations of Rs 2824.92 crores as compared to Rs 2540.03 crores over the same period in the previous year, representing a growth of 11.2%.

- Operating Profit (PBIDTA excluding Other Income and Finance Income) was Rs 188.43 crores compared to Rs 194.73 crores during the same period last year.

- Net Profit for the half-year was Rs 114.78 crores as compared to Rs 111.13 crores in H1FY19.

Vir Advani, Vice Chairman & Managing Director, Blue Star Limited adds, "The order book is healthy in the Electro Mechanical Projects segment. However, pace of execution of projects continues to be constrained due to reduced credit flow to the real estate and infrastructure sectors. Unitary Products segment continues to do well on increased demand from tier 3, 4 and 5 towns. With the Government providing stimuli to various sectors to boost the economy we remain confident of growth improving in the medium term".

Shares of BLUE STAR LTD. was last trading in BSE at Rs.795.05 as compared to the previous close of Rs. 791.15. The total number of shares traded during the day was 2307 in over 503 trades.

The stock hit an intraday high of Rs. 801 and intraday low of 788.9. The net turnover during the day was Rs. 1832161.


Source: Equity Bulls

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