Air conditioner manufacturer, Blue Star, reported a net loss of Rs 32.76 crore for the quarter ended December 31, 2011, owing to increase in input costs and forex losses. Satish Jamdar, MD of Blue Star said that borrowings have come down by more than Rs 150 crore in the third quarter. "We expect the slowdown in business to continue for another quarter. Our projects are slowing down sue to lack of cash flows," he explained. The company hopes to open more retail outlets for room air conditioners.
