 "Infogain acquires BlueStar Infotech for Rs 180 cr")
Air conditioning major Blue Star Ltd registered over four-fold increase in its consolidated net profit at Rs 14.50 crore for the quarter ended December 31, 2016, compared to Rs 2.67 crore posted in the corresponding quarter last year.
The company reported a total operating income of Rs 926.47 crore for the quarter ended Dec 31, 2016, on a consolidated basis as compared to Rs 733.52 crores in the same period last year (excluding Blue Star Infotech Ltd's operating income of Rs 61.49 crore), representing a growth of 26%.
Due to the merger of BSIL and its subsidiary, Blue Star Infotech Business Intelligence & Analytics Private Ltd (BSIBIA) with Blue Star Limited as well as the re-organisation of Blue Star Ltd and its wholly-owned subsidiaries in FY16, previous year's numbers have been restated wherever required under IND AS and also to give effect to the restructuring. Therefore, the Q3FY17 performance is not directly comparable with the previous year's numbers.
The operating profit for the quarter stood at Rs 35.08 crore as compared to Rs 23.55 crore in Q3FY16 (excluding BSIL's PBIDTA of Rs 11.65 crore), witnessing a growth of 49%.
