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Air cooler-maker Symphony on Tuesday posted consolidated net profit of ₹29 crore for the quarter ended June 30, 2022, as against ₹6 crore in the corresponding quarter a year ago.
Revenues from operations stood at ₹329 crore as against ₹230 crore in the same quarter last year, indicating a growth of 43 per cent year-on-year.
The Company’s Board of Directors has declared a first interim dividend of ₹2 per share or 100 per cent of the equity share having face value of ₹2 each for the fiscal 2022-23. “The said interim dividend shall be payable to the shareholders on or before August 20, 2022,” a statement said.
Dip in global revenue
In overall revenues, the Company's domestic revenues grew by 119 per cent to ₹188 crore for the quarter under review as against ₹86 crore in the corresponding quarter a year ago. The Company’s global revenues stood at ₹141 crore as against ₹144 crore, indicating a marginal dip of about 2 per cent.
On Tuesday, Symphony also informed that its Board of Directors has approved the purchase of the remaining 5 per cent stake or 920,000 ordinary shares of Symphony AUPty Limited, Australia, a subsidiary of the Company for a pre decided consideration of ₹4.58 crore. The Australian subsidiary was incorporated as an SPV in June 2018 for the purpose of acquisition of Climate Technologies (CTPL), Australia.
Symphony shares gained 3.42 per cent to close at ₹960.10 on BSE Tuesday.
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