Air conditioning and commercial refrigeration firm Blue Star, on Tuesday, reported a 22.79 percent increase in its consolidated net profit at Rs 58.41 crore in the quarter ended December 2022.
The company posted a consolidated net profit of Rs 47.57 crore in the corresponding period in the previous fiscal.
Speaking to CNBC-TV18 after the earnings report, Vir Advani, VC and MD of Blue Star said that the company is not planning for any price hikes in Q4 of FY23.
Also Read | Blue Star says no room for further AC price hike
“Pricing, we are keeping at the same levels as Q3. We are not able to increase prices at this stage. We want to see how the summer demand picks up and then take a call on that,” he said.
While talking about Union Budget, Advani said that the announcements are very strong for the industry. “We are still trying to understand the full impact of the tax slab changes, but it (Budget) is positive for middle-class India and that is our main market, and it is going to put more money into the hands of people, give them the confidence to spend. So, I think the Budget has been very positive for our industry and for Blue Star,” said Advani.
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