Blue Star stock gains 2% after reporting Q4 result

The Company has reported Revenue from Operations of Rs4263.59cr for the year ended March 31, 2021, on a consolidated basis.

May 07, 2021 03:05 IST India Infoline News Service

Blue Star recorded a net profit of Rs100.3cr for the quarter ending March 2021 (Q4FY21), declining from Rs143.20cr of the same period a year ago. This marked a recovery of recovered 70.1%.

The Company has reported Revenue from Operations of Rs4263.59cr for the year ended March 31, 2021, on a consolidated basis, compared to Rs5360.19cr during FY20, marking a recovery of 79.5%.

Vir Advani, Vice Chairman & Managing Director, Blue Star Limited adds, “Robust business recovery witnessed in the second half of the financial year enabled us to end the year on a high note. We have gained market share in each product category and closed the fiscal year with a strong balance sheet. While the sustenance of this growth momentum has been challenged by the second wave of the pandemic and the consequent restrictions imposed in many parts of the country, I believe that we have the potential to navigate through the current situation and bounce back once the situation improves. Our focus continues to be on keeping our employees, dealers, and business associates safe, and fulfilling the emergency needs of our customers. Our goal is to grow faster than the market, keep the operating costs under control and manage the balance sheet prudently, with a clear focus on operating cash flows.”

The Company ended the year with a Net Positive Cash Balance of Rs151.45cr as of March 31, 2021, compared to a Net Borrowing of Rs131.01cr as of December 31, 2020. Net Borrowing was Rs155.00cr as of March 31, 2020 (Debt Equity ratio of 0.21).

At around 3.28 pm, Blue Star was trading at Rs842.55 per piece up by 1.7% on Sensex.

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