India's Blue Star falls after weak Q2 cooling products margin

By Reuters News3 hours ago Updated

** Shares of Blue Star BLUS.NS fall 4.9% to 1,591.80 rupees

** Air conditioner maker reports September-quarter consolidated net profit increases 25.2% Y/Y, revenue from ops rises 21% Y/Y

** Investec ("sell", PT: 1,485 rupees) says unitary cooling products profitability was extremely weak, with EBIT margin contracting 4 ppt Y/Y to 2.3%, hurt by raw-material inflation and intense competition

** Stock rated "buy" on average by 14 analysts; median PT is 1,700 rupees - LSEG compiled data

** Stock down 8% YTD

($1 = 95.1900 Indian rupees)

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