Blue Star slips on halting operations due to COVID-19 outbreak

Blue Star fell 1.88% to Rs 519.70 after the company said it has temporarily suspended its operations at its various offices and manufacturing plants.

In the light of the order of the central government for nationwide lockdown for three weeks with effect from 12 a.m on 25 March 2020, to control the outbreak of COVID-19, the company has temporarily suspended its operations at its various offices and manufacturing plants. Most of the office based staff are working from home and are available over their mobile phones and e-mail. Customers, channel partners and vendors are being kept informed, the company said. The announcement was made post trading hours yesterday, 25 March 2020.

Blue Star's consolidated net profit surged 324.8% to Rs 20.56 crore on a 12.5% jump in net sales to Rs 1,235.91 crore in Q3 December 2019 over Q3 December 2018.

Blue Star is an air-conditioning and commercial refrigeration company. The company conducts various activities, such as electrical, plumbing and fire-fighting services. Its segments include electro-mechanical projects and packaged air conditioning systems, and unitary products.

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