 "Symphony hits record high on strong Q2 results")
Shares of consumer durables firm Symphony has surged 8% to Rs 1,577 on NSE after reporting a strong 51% year-on-year (yoy) jump in net profit at Rs 21.63 crore for the quarter ended September 2014 (Q2), on back of healthy revenue growth. The company had registered a net profit of Rs 14.32 crore during the same quarter year ago.
Net sales of the company for the quarter grew 43% to Rs 103 crore against Rs 72 crore in the corresponding quarter of previous fiscal.
EBITDA or operating profit margins improved by 300 basis points to 28.5% from 25.4%, Symphony said in a statement.
The stock opened at Rs 1,498 and hit a record high of Rs 1,610 on NSE. A combined 172,000 shares changed hands on the counter so far on NSE and BSE. The stock gained 11% on Monday.
Net sales of the company for the quarter grew 43% to Rs 103 crore against Rs 72 crore in the corresponding quarter of previous fiscal.
EBITDA or operating profit margins improved by 300 basis points to 28.5% from 25.4%, Symphony said in a statement.
The stock opened at Rs 1,498 and hit a record high of Rs 1,610 on NSE. A combined 172,000 shares changed hands on the counter so far on NSE and BSE. The stock gained 11% on Monday.