Symphony Limited, an air cooling solutions company, reported a net profit of ₹148 crore for the year ending March 2024, up 28 per cent from ₹116 crore clocked during the previous fiscal year.

The sales of the company decreased by three percent, totalling ₹1156 crore in the year ending March 2024, compared to ₹1188 crore the previous year, stated an official release from the company.

Nrupesh Shah, Managing Director (Corporate Affairs), Symphony Ltd, stated, “Despite the strong base effect (Q4FY23), we achieved our highest ever quarterly India domestic revenue, fuelled by a searing summer with ‘above normal’ temperatures. Our gross margin improved on a y-o-y basis due to tactical pricing, value engineering, and softening of input costs. Our EBITDA margin improved due to the performance of our subsidiaries and streamlining operations, leading to improved efficiency.”

The company stated that in the last quarter ending March 2024, Symphony’s net profit surged by 200 per cent, reaching ₹48 crore, a significant increase from Rs 16 crore in the same quarter of the previous year, March 2023. Additionally, the company’s sales experienced a growth of 8%, amounting to ₹332 crore in the quarter ending March 2024, compared to ₹308 crore in the quarter ending March 2023, the release added.

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