Symphony Aircoolers posts breezy 6.6% rise in profits in Jul-Sept quarter

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.

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

• 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.

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.

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.