Blue Star's Q3 results disappoint; shares dip
Business
Blue Star's Q3 earnings missed the mark.
Revenue grew 4% year-on-year to ₹2,925 crore but still fell short of expectations, and profit dropped 39% to ₹81 crore—mostly because of extra costs from new labor codes.
Segment struggles and analyst outlook
The company's cooling products segment actually saw a slight revenue dip instead of the growth analysts hoped for, though margins improved a bit.
The projects business posted some revenue growth but faced lower profitability.
Even with these bumps, Jefferies stuck to its 'Hold' rating and set a target price of ₹2,000, noting that EBITDA performance was steady given the tough quarter.