Symphony Limited has locked upper circuit of 20% at Rs 310 on reporting 68% year-on-year (yoy) jump in net profit at Rs 19.67 crore for the quarter ended June 2012, on back of higher operational income and lower raw material consumption. Operating margins improved by 200 basis points to 30.76% from 28.65%.
Total income from operations of consumer durable goods maker grew 53% to Rs 90 crore on y-o-y basis. Total raw material cost reduced to Rs 24.52 crore from Rs 31.97 during the recently concluded quarter.
Meanwhile, the board has recommended dividend of Rs 3 per share over and above a silver jubilee year special dividend of Rs 2.50 per share (total dividend Rs 5.50 per share) having face value of Rs 2/-, on equity share capital of the company for the year ended on June 30, 2012.
A combined 632,583 shares have changed hands on the counter so far, and there are pending buy orders for 146,642 shares on the NSE and BSE.
