Target to increase market share 0.5%: Blue Star

Target to increase market share 0.5%: Blue Star

The company's second quarter results have been better than anticipated. The company's AC segment grew 10 percent year-on-year but is weaker than its counterpart.

In the second quarter of FY 2020, Blue Star's profit grew by 94.1 per cent to Rs 38 crore. In the second quarter of FY 2019, Blue Star had a profit of Rs 19.5 crore.

In the second quarter of FY 2020, Blue Star's revenue grew 21 per cent to Rs 1,249.5 crore. Blue Star's income stood at Rs 1,032.2 crore in the second quarter of FY 2019.

On an annual basis, Blue Star's EBITDA increased to Rs 73.6 crore from Rs 58.1 crore in the second quarter, while EBIT margin increased to 5.9 percent from 5.6 percent.

The company's MD B Thiagarajan said that we are confident that we will improve our growth in the medium term. As demand from 3, 4 and 5 tier cities increases, the Unitary product segment will do well. At the same time, EMP is constantly being disrupted due to the decrease in credit flow in real estate and infrastructure sector.

He further said that the company is happy that it has retained its market share in the AC segment. Subsequently, the company aims to increase its market share by 0.5 percent while the company is expected to grow by 15 percent and a 9.5 percent margin for the full year.