Blue Star has reported a decline of 20.45 per cent in consolidated revenue from operations for the year ended March 31, 2021. It stood at Rs 4,263.59 crore for the year ended March 31, 2021compared to Rs 5,360.19 crore during FY20. In Q4 2021, the revenue from operations were at Rs 1,611.56 crore.
The net profit for the year was Rs 100.35 crore in FY21 compared to Rs 143.25 crores in FY20. In Q4 FY 2021, the net profit of the company was at Rs 67.97 crore, while Q4 FY 2020, it was Rs 8.90 crore.
Meanwhile, the Board recommended a final dividend of Rs 4 per equity share of Rs 2 (Rupees Two) each for the financial year ended March 31, 2021.
Vir Advani, Vice Chairman and Managing Director, Blue Star Limited said, “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.”
The company stated healthy cash from operations and improvement in working capital efficiencies enabled a significant reduction of Rs 282.46 crore in net borrowings for Q4FY21.