New Delhi: Homegrown cooling products maker Blue Star Ltd on Wednesday reported a 21 per cent rise in consolidated net profit to Rs 194 crore in the March quarter, driven by higher revenues.
It had posted a net profit of Rs 159.71 crore in the January-March period of the preceding 2023-24 financial year, the company said in a regulatory filing.
The company's total income increased to Rs 4,042.95 crore in the fourth quarter from Rs 3,340.16 crore in the same period a year ago.
Expenses also rose to Rs 3,793.73 crore during the quarter against Rs 3,126.38 crore in the March quarter of FY24.
For the entire FY25, the net profit increased to Rs 591.28 crore from Rs 414.31 crore in FY24.
The board also recommended a final dividend of Rs 9 per equity share of Rs 2 each for the financial year ended March 31, 2025.
It further approved the re-appointment of Vir S Advani as the company's Chairman & Managing Director for a further period of five years commencing from April 1, 2026.
The approval is based on the recommendations of the Nomination and Remuneration Committee and is subject to the approval of members of the company.
Advani, after a two-year working stint in private equity in New York, joined Blue Star Infotech Ltd in 2000 and later founded Blue Star Design and Engineering Ltd in 2003, serving as its Chief Executive Officer.
In 2007, he moved to Blue Star as Vice President of Corporate Affairs and became Executive Director in 2010.
In April 2016, he was appointed as the Managing Director of the Company, and in April 2019, he was elevated to Vice Chairman and redesignated as Vice Chairman & Managing Director.
In April 2024, he assumed the position of Chairman & Managing Director at Blue Star.
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