Analysts said consumer durables companies saw strong demand during the October-December period due to the festive season
India’s Blue Star on Tuesday reported a jump in third-quarter profit, aided by strong demand for its air conditioners and refrigeration products.
The company posted a consolidated net profit of one billion rupees ($12 million) for the three months ended Dec. 31, up nearly 72% from last year. Revenue from operations rose about 25%.
Analysts said consumer durables companies saw strong demand during the October-December period due to the festive season.
Additionally, air conditioner makers like Blue Star saw strong volume growth due to inventory stocking by sellers before the arrival of summer.
Blue Star, over the past few quarters, has also benefited from the execution of its strong order book. The company said its carried forward order book grew 24.2% year-on-year to 60.39 billion rupees.
Rival Havells India earlier this month posted a marginal rise in quarterly profit.
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First Published: Jan 30 2024 | 4:59 PM IST
