Companies

Symphony net profit up 19%; board declares 50% 2nd interim dividend

Our Bureau Ahmedabad | Updated on January 09, 2018

Air cooler maker Symphony Ltd has posted a net profit of Rs 50.67 crore for the September quarter, up 19.15 per cent, from Rs 42.52 crore reported in the corresponding quarter a year ago.

The company's net sales during the quarter stood at Rs 184.18 crore, up 22.56 per cent, against Rs 150.28 crore in the same period last year. EBITDA margins on gross revenue for the second quarter stood at 38.33 per cent and EPS was at Rs 7.24.

The board of directors at its meeting held on October 31, 2017 declared a second interim dividend of 50 per cent or Re 1 per equity share of Rs 2 each amounting to Rs 8.42 crore, including dividend distribution tax.

For the six-month period ended September 30, the company posted a net profit of Rs 74.71 crore, up 0.84 per cent, against Rs 74.08 crore in the corresponding period last year. Net sales in the first half stood at Rs 313.44 crore compared with Rs 302.43 crore in the first half of 2016-17.

EBITDA margins on gross revenue for the first half of 2017-18 stood at 31.66 per cent and EPS was at Rs. 10.68.

Commenting on the financial performance of the company, Nrupesh Shah, Executive Director, Symphony Ltd, said, "Despite initial hiccups arising from the GST implementation from July 1, we are witnessing buoyant demand in domestic market. The sales growth rate and profitability margin percentage are robust and back to normal starting September quarter as envisaged by management earlier."

Symphony shares ended the session higher by 3.3 per cent at Rs 1,460 on the BSE.

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Published on October 31, 2017
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