Blue Star expects Q4 to hit pre-COVID sales

Sales in the residential AC and commercial refrigeration segment were around 80 pc in the July-September quarter compared to the same period a year ago. “Whatever lost in Q1 is lost. It was 50 per cent sales in Q1. In Q2, the market has gone up to 80 pc. In Q3, it will be 90 pc of last year and in Q4, we would have around 100 or 110 per cent,” Blue Star MD B Thiagarajan said.

Due to the pandemic and economic disruptions, the AC industry lost most of its peak time sales in the Q1 -- the April-June period when most of the sales of cooling products happen as summer peaks. But, the company, which is also into commercial cooling space, expects that recovery in this segment will take a longer time. Blue Star reported a revenue of Rs 4,786.49 cr in FY 2019-20. Its revenue from operations was down to Rs 626.02 cr in-June quarter.