Blue Star Limited reported consolidated net profit of Rs 123.91 crore for Q2 FY27, ended Sept. 30, 2026, up 25.4% year over year, while operating margin narrowed as operating profit grew more slowly than sales.
Revenue from operations climbed 21% to Rs 2,930.95 crore, compared with Rs 2,422.37 crore in Q2 FY26. The company reports operating profit as EBITDA after removing other income from the calculation. On that basis, operating profit rose 10.5% to Rs 202.58 crore from Rs 183.41 crore. Operating margin was 6.9%, down from 7.6% a year earlier. The margin measures operating profit as a share of revenue, so the lower rate means operating profit accounted for a smaller portion of sales.
Blue Star's wholly owned engineering and electronics subsidiary sold its MedTech business, generating an exceptional gain of Rs 23.02 crore in the quarter.
In the Unitary Products segment, which covers room air conditioners and commercial refrigeration, revenue increased 29.4% to Rs 897.66 crore. The segment's result fell to Rs 20.74 crore from Rs 42.72 crore, showing that sales growth coincided with a lower segment result.
Blue Star associated room air-conditioner demand with a longer summer and monsoon rains that arrived later. The company said higher material costs were difficult to pass on to customers, putting pressure on margins. Chairman and Managing Director Vir S Advani said, “We continue to see strong demand for Room ACs through the festive season.”
Blue Star scheduled a conference call on its Q2 and half-year results for 2 a.m. ET Friday, Oct. 30 (06:00 UTC). The notice lists Managing Director B. Thiagarajan and Group Chief Financial Officer Nikhil Sohoni as participants.
