Symphony Q2 Results: Net profit up 6.7% at Rs 32 cr

Air cooler and appliances maker Symphony Ltd on Thursday reported a 6.66 per cent increase in its consolidated net profit to Rs 32 crore for the second quarter ended September 30. The company had posted a net profit of Rs 30 crore in the July-September quarter a year ago, Symphony said in a BSE filing.

Its revenue from operations rose 25.76 per cent to Rs 288 crore during the quarter under review against Rs 229 crore in the year-ago period.

Symphony's revenue from the Indian market was Rs 190 crore, while the global markets contributed Rs 84 crore.

Symphony Executive Director Nrupesh Shah said the company has a "robust off-season collection, in line with the pre-Covid period" and positive trade sentiment.

"Q2 FY23 recorded the highest ever second quarter Standalone and Consolidated sales, up by 10 per cent and 1 per cent, respectively, vis-a-vis previous historical high," he said.

Symphony's total expenses rose 29.62 per cent to Rs 245 crore in Q2/FY23 from Rs 189 crore earlier.

In a separate filing, Symphony said its board on Tuesday recommended a final dividend of 100 per cent, which is Rs 2 per equity share having a face value of Rs 2, for the financial year 2022-23.

Shares of Symphony Ltd on Thursday afternoon were trading at Rs 884.95 apiece on BSE, up 2.71 per cent from the previous close. PTI KRH BAL BAL