Symphony Ltd reports 36.58% rise in standalone profit in Q2FY17

Ahmedabad-based Symphony Limited reported 36.58 per cent rise in its standalone net profit at Rs 39.28 crore for the second quarter ended September 30, 2016 2016-17 as against Rs 28.76 crore in the corresponding quarter of 2015-16.

The company registered growth by 31.33 per cent in net sales to Rs 150.27 crore for Q2FY17 against Rs 114.42 crore in previous financial year's corresponding quarter.

Nrupesh Shah, Executive Director of Symphony said, "We are witnessing buoyant demand in domestic market, international business and centralised air cooling across the geographies. Our newly lunched five models of i-Touch have received overwhelming response."

Board of directors of Symphony declared second interim dividend by 50 per cent to Rs 1 per equity share of Rs 2.

For the six months ended September 2016, the company reported a net profit of Rs 70.42 crore against Rs 51.02 crore for the six months ended September 2015, a 38 per cent growth. Net sales in first half of FY 2016-17 increased by 34.46 per cent tot Rs 302.42 crore compared to Rs 224.91 crore in the six months ended September 2015.