Blue Star declares a high dividend

Blue Star announced that it has declared an interim dividend of Rs 10 per equity share of Rs 2 for FY19-20, at a meeting held of its board of directors. The record date for the same is March 20, 2020 with the dividend expected to be paid or dispatched on or before March 30, 2020.

For the third quarter of FY20, on a consolidated basis, the net sales grew by 12.46 per cent to Rs 1,235.91 crore from Rs 1,098.97 crore in Q3FY19. PBDT went up by 66.31 per cent to be Rs 54 crore in Q3FY20 as compared to Rs 32.47 crore in Q3FY19. Blue Star gained a net profit of Rs 19.70 crore in Q3FY20, clocking a growth of 48.90 per cent from net profit of Rs 13.23 crore gained in Q3FY19.

Recently, Blue Star launched a new range of residential Air Conditioners (AC) as part of its strategic foray into ‘premium-yet-affordable’ segment with three-star inverter split air conditioners available at attractive prices starting from Rs 31,990 for one tonne three-star inverter split AC and from Rs 37,990 for 1.5 tonnes three-star inverter split AC.

Blue Star Limited is an air-conditioning and commercial refrigeration company having electrical, plumbing and fire-fighting services as well. Its business segment includes electro-mechanical projects and packaged air conditioning systems and unitary products.

Despite the news, since a gloomy day overshadowed the markets, the stock of the company closed at Rs 745.80, down by 4.45 per cent or Rs 34.70 per share. The 52-week high is Rs 887 and 52-week low is Rs 642 on BSE.