Symphony

Analysts expect the stocks to remain weak in the near-term as lower sales offtake will lead to companies missing their earnings estimates for the April-June quarter (Q1FY24)

Air cooler and appliances maker Symphony Ltd on Friday reported a decline of 75 per cent in its consolidated net profit at Rs 16 crore for the March quarter. The company had posted a net profit of Rs 64 crore in the January-March quarter a year ago, Symphony said in a BSE filing. Its revenue from operations was also down 19.79 per cent to Rs 308 crore during the quarter under review, as against Rs 384 crore in the year-ago period. Its total expenses in Q4FY23 were down 4.83 per cent to Rs 295 crore as against Rs 310 crore of the corresponding quarter a year ago. Its total revenue in the March quarter was down 20.5 per cent to Rs 318 crore. For the financial year ended March 2023, Symphony's net profit was down 4.13 per cent to Rs 116 crore against Rs 121 crore in FY22. However, its consolidated revenue from operations in FY23 increased 14.34 per cent to Rs 1,188 crore from Rs 1,039 crore a year ago. Meanwhile, in a separate filing, Symphony informed its board in a meeting held o

White goods stocks: With the mercury currently on the boil, analysts remain bullish on the sector as they see more upside over the near-term and advise investors to pick stocks selectively

The board, at its meeting held February 08, 2023, had approved and announced share buyback up to Rs 200 crore at a share price of Rs 2,000 per share via tender offer

Analysts expect a rise in demand for air conditioners, coolers, fans and refrigerators to help related companies clock firm sales following the post-Diwali slump due to inflationary pressures

The world's largest manufacturer of air-coolers is not only witnessing a spike in share of e-commerce platforms such as Amazon and Flipkart in its domestic sales but also from its D2C website

For the quarter under review, Voltas reported a 12.52 per cent year-on-year (YoY) increase in its consolidated net profit at Rs 159.50 crore

As many as 63 stocks have zoomed over 1,000 per cent during this period

The stock slipped 9% to Rs 871 on the BSE in intra-day trade after the company reported a 38% YoY decline in consolidated net profit at Rs 310 million in September quarter.

The stock tanked 20% to Rs 1,125, also its 52-week low on the NSE after the company's consolidated net profit almost halved to Rs 200 million in June 2018 quarter.

Advertising and sales promotion expenses went up to Rs 13.28 crore as against Rs 1.32 crore

The net sales during during the quarter stood at Rs 137.15 crore, up 10%