The uptick in the stock price came after the company posted a strong set of numbers in the June quarter. The board also announced a dividend and share buyback, which further fuelled the stock rally.
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
Revenue from operations dropped 47.26 per cent to Rs 154 crore during the quarter, as against Rs 292 crore earlier
By comparison, the S&P BSE Sensex has gained 73% to 33,359 levels during this period
The stock dipped 10% to Rs 1,202 after reported 23.8% YoY drop in profit at Rs 24 crore in Q1FY18
Board of directors of Symphony declared second interim dividend by 50 per cent to Rs 1 per equity share of Rs 2
To be marketed under Cloud brand; company seeks global patents for the product