Blue Star lost 0.87% to Rs 357 at 10:38 IST on BSE, with the stock exhibiting high volatility after the company reported a net loss of Rs 5.79 crore in Q2 September 2015 compared with net profit of Rs 9.05 crore in Q2 September 2014.
The result was announced after market hours yesterday, 26 October 2015.
Meanwhile, the S&P BSE Sensex was down 140.39 points or 0.51% at 27,221.57.
On BSE, so far 7,980 shares were traded in the counter as against average daily volume of 8,587 shares in the past one quarter.
The stock was volatile. The stock tumbled as much as 7.87% at the day's low of Rs 331.80 so far during the day. The stock rose as much as 1.62% at the day's high of Rs 366 so far during the day. The stock had hit a 52-week low of Rs 274 on 18 March 2015. The stock had hit a 52-week high of Rs 395 on 30 July 2015.
The stock had outperformed the market over the past one month till 26 October 2015, surging 8.28% compared with the Sensex's 5.79% rise. The scrip had also outperformed the market in past one quarter, jumping 8.06% as against Sensex's 2.67% fall.
The mid-cap company has equity capital of Rs 17.99 crore. Face value per share is Rs 2.
Blue Star's net sales rose 12.4% to Rs 710.46 crore in Q2 September 2015 over Q2 September 2014.
The company's operating profit declined 23.94% to Rs 27 crore in Q2 September 2015 over Q2 September 2014.
There was an exceptional loss of Rs 15.80 crore in Q2 September 2015 due to the cost of the voluntary retirement scheme as well as other expenses related to the closure of the company's manufacturing facility in Thane. There was an exceptional loss of Rs 9.51 crore in Q2 September 2014.
Blue Star's carry forward order book rose 8% to Rs 1604 crore as on 30 September 2015 compared with Rs 1492 crore as on 30 September 2014.
With regard to the company's business outlook, Blue Star said that the electro mechanical projects business shows a modest revival in order inflow and project execution. The cooling products business continues to perform reasonably well with the residential and light commercial segments contributing significantly to growth in this business. The business outlook for the remainder of the year is likely to keep improving, Blue Star said in a statement.
Blue Star is India's leading central airconditioning company. The company fulfils the airconditioning needs of a large number of corporate, commercial and residential customers and has also established leadership in the field of commercial refrigeration.
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