Symphony shares tank nearly 10% on disappointing Q1 results

Shares of air cooler company Symphony Ltd today plunged nearly 10 per cent after the company reported a 23.82 per cent decline in standalone net profit for the quarter ended June 30.
The stock slumped 9.76 per cent to close at Rs 1,201.80 on BSE. During the day, it tumbled 11.77 per cent to Rs 1,175.
On NSE, it dropped 9.77 per cent to end at Rs 1,205.05.
Ahmedabad-based air cooler company Symphony Ltd today reported a 23.82 per cent decline in standalone net profit at Rs 24.04 crore for the quarter ended June 30.
The company had posted a net profit of Rs 31.56 crore in the previous year.

Its total revenue in the quarter under review stood at Rs 142.40 crore, down 9.84 per cent, as against Rs 157.95 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.