Comments
Air cooler maker Symphony Limited on Monday reported 37 per cent rise in the net profit for the second quarter ended September 2016 at Rs 39 crore as against Rs 29 crore reported in the corresponding quarter a year ago.
Net sales for the second quarter stood at Rs 150 crore, up by 31 per cent from RS 114 crore in the same quarter last year. EBITDA margin on gross revenue for the quarter under review stood at 36 per cent and earnings per share was Rs 5.62.
The company further informed that the board of directors at its meeting held on October 25, 2016, declared second interim dividend of 50 per cent or Re 1 per equity share of Rs 2 amounting to Rs 841.99 lakh including dividend distribution tax.
The record date for the payment of interim dividend is November 4, 2016. The interim dividend will be paid on or before November 15, 2016.
For the six-month period, Sumphony reported net profit of Rs 70 crore against Rs 51 crore in the corresponding quarter a year ago, showing 38 per cent growth. Net sales for the period stood at Rs 302 crore, up 34 per cent against Rs 225 crore in the six months ended September 2015.
Nrupesh Shah, Executive Director of Symphony Ltd, "We are witnessing buoyant demand in domestic market, international business and centralised air cooling across the geographies. The newly lunched 5 models of i-Touch have received overwhelming response."
Symphony shares surged by close to 6 per cent on the National Stock Exchange (NSE) to trade at Rs 1,264.10 on Tuesday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.