Blue Star Ltd.'s net profit dipped 28% in the quarter ended June on the back of increased rainfall across the country leading to weak summer.
The company's bottom line fell to Rs 120.96 crore during the April-June period, compared to Rs 168.84 crore for the same period last year, according to an exchange filing on Wednesday.
Blue Star Q1 FY26 Highlights (Consolidated, YoY)
Revenue up 4.1% to Rs 2,982.25 crore versus Rs 2,865.37 crore.
Net profit down 28% to Rs 120.96 crore versus Rs 168.84 crore.
Ebitda down 16% to Rs 199.99 crore versus Rs 237.83 crore.
Margin at 6.7% versus 8.3%.
The business-to-business portfolio of the air-conditioner manufacturer continued to perform well, leading to modest growth in the present quarter, the filing said.
Blue Star's order book grew to Rs 6,843 crore, representing a 12.5% rise during the quarter ended June 30.
Segmental Performance
Unitary products segment, including room air conditioners and commercial refrigeration, reported a decline in its revenue by 13.3% to Rs 1,499.37 crore during the first quarter, compared to Rs 1,729.52 crore for the same period last year.
The top line of the professional electronics and industrial systems segment fell to Rs 70.42 crore, posting a 27.3% fall during the April-June period, against Rs 96.86 crore for the year-ago period.
Shares of Blue Star closed 1.13% higher at Rs 1,770.40 apiece on the NSE, compared to a 0.31% fall in the benchmark Nifty. The stock has risen 11.39% in the last 12 months but fallen 17.24% on a year-to-date basis.
Out of the 23 analysts tracking the company, 11 have a 'buy' rating on the stock, 10 recommend 'hold' and two gave 'sell' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 1.6%.
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