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Due to increased demand this summer, air cooler manufacturer Symphony Ltd on Tuesday reported a 68 per cent rise in net profit and 52 per cent in turnover in the fourth quarter ended June 30, 2012, compared to the corresponding period in the last financial year.
In a statement here, the company said its turnover was Rs 87.06 crore (Rs 57.4 crore) while net profit stood at Rs 19.67 crore (Rs. 11.74 crore) in the period under review.
On Tuesday, the company’s share price closed 13.03 per cent up at Rs 258.45 on the BSE.
The company has declared total dividend of Rs 5.50 per share (275 per cent on an equity share of face value of Rs 2 each), including the Silver Jubilee Year special dividend of Rs 2.50 per share (125 per cent). The company had declared 100 per cent dividend in the last year.
For the full year ended June 30, 2012, the company reported a 12 per cent rise in net profit at Rs 50.34 crore (Rs 44.93 crore). Net sales in 2011-12 were higher by 7 per cent at Rs 250 crore (Rs 233 crore).
Mr Nrupesh Shah, Executive Director, said there was a significant jump in demand from June, making up for the initial slow sales. Exports to 60 countries were helping the company in balancing seasonal sales in India.
Symphony is the first Indian consumer durables company to be registered under the German Standard (GS) for its air cooler products, he added.
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