Blue Star has said it expects its room or residential air conditioners and commercial refrigeration businesses to get back to normal by the last quarter of the current financial year after it reported a steep fall in its revenue hit by COVID-19 led disruptions.
The company, which reported a consolidated net loss of 19.66 crore for the first quarter ended June 30, 2020, said its manufacturing and supply chain operations are fully operational. Blue Star had posted a net profit of Rs 76.84 crore in the April-June quarter a year ago.
"We have cut the operating costs in line with the potential revenue loss and infused capital through long-term debt to strengthen the resilience of our balance sheet. We will continue to prioritise project execution based on cash flow," Blue Star said in an investors' update.