Blue Star Infoech surges on robust Q1 earnings
The stock has appreciated 76% from its recent low of Rs 48.15 on June 4, as compared to 3.6% rise in Sensex.
Blue Star Infotech has surged 11% to Rs 81 on reporting nearly five fold jump in its consolidated net profit at Rs 10.38 crore for the quarter ended June 30, 2013 on back of strong growth in operational income. The small-cap IT software products provider had registered a profit of Rs 0.90 crore in the year ago quarter.
The company’s total income from operations grew 44% at Rs 56.88 crore for the quarter against Rs 39.87 crore during the corresponding quarter of previous fiscal.
“Increased revenues from USA operations and the transition of existing clients into million dollar accounts have considerably contributed to the company’s growth,” Blue Star Infotech said in a statement.
The stock opened at Rs 73 and hit a 52-week high of Rs 84.65 on BSE. A combined around 18,000 shares have changed hands on the counter so far on BSE and NSE.
Meanwhile, the stock has appreciated 76% from its recent low of Rs 48.15 on June 4, 2013 as compared to 3.6% rise in benchmark Sensex.
The company’s total income from operations grew 44% at Rs 56.88 crore for the quarter against Rs 39.87 crore during the corresponding quarter of previous fiscal.
“Increased revenues from USA operations and the transition of existing clients into million dollar accounts have considerably contributed to the company’s growth,” Blue Star Infotech said in a statement.
The stock opened at Rs 73 and hit a 52-week high of Rs 84.65 on BSE. A combined around 18,000 shares have changed hands on the counter so far on BSE and NSE.
Meanwhile, the stock has appreciated 76% from its recent low of Rs 48.15 on June 4, 2013 as compared to 3.6% rise in benchmark Sensex.