Blue Star may raise air conditioner prices further

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To buy to sell Blue Star to share

Commercial air conditioning and refrigeration maker Blue Star Ltd saw its consolidated net profit jump to Rs 74.35 crore in the June quarter due to higher demand. Blue Star experienced strong growth on all fronts in the quarter under review, with revenue up 87% year-on-year. Margin also improved to 6.2% but has yet to recover to pre-COVID levels.

Talk to CNBC-TV18, Vir Advani, VC and MD at Blue Star said, “We are on track to improve our margins. So we have a three-year plan that actually calls for significant margin improvement, not just 100 basis points. We have indicated that this could be the short-term objective.

The company saw volume growth despite cost increases, some of which were passed on to customers.

“We raised prices in the last quarter, we didn’t in the first quarter. The reason for that is that we had a very big table change from the Office of Energy Efficiency, July 1, we have to in see the impact on the consumer,” Advani said.

“We will review prices in the first week of September. We need to look at the inventory in the industry, we need to look at the impact of the BE table and of course where the commodity prices are going.

For the full interview, watch the attached video

(Edited by : Abhishek Jha)

First post: STI

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