Blue Star Infotech posts 86 pc jump in net profit in Q2

Global software services and solutions provider Blue Star Infotech Ltd today registered 86 per cent jump in net profit at Rs 5.69 crore in the second quarter ended September against Rs 3.06 crore in the year-ago period.
The significant rise in PAT is due to improvement in quality of accounts and revenue mix, a company statement said.
The company's total revenue stood lower at Rs 64.20 crore in the quarter as compared to Rs 67.16 crore in the corresponding period last year.
Total operating profit grew by 143 per cent at Rs 6.30 crore as compared to Rs 2.59 crore for the same quarter last year.

The half year (H1) operating profit moved up by 39 per cent at Rs 9.02 crore as against Rs 6.48 crore for the same period last year.
Blue Star Infotech expanded its operations geographically and ventured into the hospitality sector in the United Arab Emirates.

The company won a new deal from one of the leading international property operators for rendering collaboration and service planning offerings. Adding to its already esteemed portfolio of clients in the Travel and Hospitality sector, Blue Star Infotech added a new travel customer - a prominent online travel agent based in US.
The company won three deals to provide enterprise software services to a Malaysian oil & gas company, a media house in India and an engineering company in India.

Sunil Bhatia, CEO &MD, Blue Star Infotech said, "The company reported strong Q2 performance with significant increase in PAT and total operating profit. We acquired the complete stake of our JV and closed non-remunerative business and hence our top line remained flat."
"Our internal operations are more streamlined, thereby reducing operational costs. We have also effectively improved the revenue structure," Bhatia added.