Blue Star disclosed a net profit to Rs 19.99 crore for the 2nd quarter which ended on September 30, 2016. The company had clocked a net profit of Rs 5.15 crore in July-September period a year ago. Its total income from operation was recorded at Rs 897.82 crore during the quarter under review. It was Rs 847.09 crore of the same quarter of the previous financial year.
Its expenditure was registered at Rs 872.27 crore. Blue Star said that its results are not comparable because of the merger of Blue Star Infotech Limited (BSIL) and its subsidiary, Blue StarInfotech Business Intelligence & Analytics. On the other hand, the company also announced top level management changes as Suneel M Advani to take charge as Chairman of Blue Star. Ashok M Advani, who is going to turn 75 will retire from the Board as Chairman of the Board which will come into effect from November 30, 2016. He will be re-designated as Chairman Emeritus. It also annouced to induct two new members on its board - Rajiv R Lulla and Dinesh Vaswani. Both are being appointed in the capacity of Non-Executive Promoter Directors and will further boost the Board with their vast and diverse experience all over the globe.
Blue star infotech share price is trading below 5 per cent at Rs. 507.55. The stock opened at Rs. 530.20 against its previous closing at Rs. 529.85. Till now, around 23,084 shares are traded in the counter with a traded value of Rs. 117.54 lacs, as per NSE.
Blue Star is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research, it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run. For further details, refer to Blue star infotech share price history.
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