Airconditioner maker Blue Star today reported a net profit to Rs 19.99 crore for the second quarter ended on September 30, 2016. The company had registered a net profit of Rs 5.15 crore in July-September period a year ago, Blue Star said in a BSE filing. Its total income from operation was at Rs 897.82 crore during the quarter under review.
It was Rs 847.09 crore of the corresponding quarter of the previous fiscal. Its expenditure was Rs 872.27 crore. Blue Star said that its results are not comparable due to merger of subsidiary company into it. "Due to the merger of Blue Star Infotech Limited (BSIL) and its subsidiary, Blue StarInfotech Business Intelligence & Analytics with Blue Star as well as the re-organisation of Blue Star and its wholly-owned subsidiaries in FY16... Q2FY17 performance is not directly comparable with the previous year's numbers," the company said. Meanwhile, the company also announced top level management changes as Suneel M Advani to take charge as Chairman of Blue Star. Ashok M Advani, who will turn 75 will retire from the Board as Chairman of the Board with effect from November 30, 2016. "He will be re-designated as Chairman Emeritus," it added. 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 strengthen the Board with their vast and diverse experience across the globe," it said. Shares of Blue Star today settled at Rs 528.15 on BSE, down 1.81 per cent from previous close.
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