2024-05-02 05:51:56 pm | Source: Reuters
India's Blue Star posts jump in Q4 adjusted profit on robust air conditioner demand
Indian air-conditioner (AC) maker Blue Star's fourth-quarter adjusted profit jumped more than 46% on Thursday, buoyed by heavy demand for its ACs as consumers prepared for a hotter-than-usual summer.
WHY IT'S IMPORTANT
India is currently experiencing a blistering summer, which has driven up sales of products such as ACs and coolers.
In March, Blue Star said it launched dozens of new home AC products, targeting a 25% jump in revenue from that business this summer, compared with a 5% rise last year.
Peer Havells India also posted a higher quarterly profit on strong demand for room ACs and fans. Voltas is expected to release its results next week.
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