India's Blue Star slips on Q2 profit view miss

Blue Star

07/11/2024 05:03

** Shares of Blue Star  BLUS.NS  fall 7% to 1,749.6 rupees,
eyes worst one-day pct fall since July 10
    ** Co posted a 36% rise in Q2 consol net profit to 961.9 mln
rupees ($11.4 mln), but fell short of analysts' estimate of
965.6 mln rupees, as per data compiled by LSEG
    ** Rev from water coolers, deep freezers rose just 5% as
quality control regulations hurt sales, alongside delays in
ramping up production of new range of deep freezers
    ** More than 680,000 shares change hands in early trade,
1.6x the 30-day avg
    ** Seventeen analysts covering the stock on avg have a "buy"
rating; median PT is 1,707.5 rupees - LSEG data
    ** Day's losses trim stock's YTD gains to ~85%

($1 = 84.2975 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))