New Delhi: Air conditioner maker Blue Star has reported a 37.82% increase in consolidated net profit at Rs51.23 crore for the fourth quarter ended March 2018.

The company had registered a net profit of Rs37.17 crore in the January-March period a year ago. Its total income during the quarter stood at Rs1,479.70 crore. It was Rs1,388.61 crore in the same quarter of the preceding fiscal, Blue Star said in a BSE filing.

Blue Star said revenues from operations for the quarter and year ended 31 March 2018, are not comparable with those of previous periods due to GST implementation with effect from 1 July 2017, which replaced excise duty and other input taxes.

Revenue from operations for the quarter under review reported is net of GST. In a separate filing, Blue Star said the board of directors of the company has recommended a dividend of Rs8.50 per equity share.

In addition, to commemorate the company’s platinum jubilee in 2018, the directors have recommended a special dividend of Rs1.50 per equity share.

Shares of Blue Star settled 2.16% lower at Rs767.75 apiece on the BSE.