Symphony surges on robust Q2 earnings

Air cooler sales in Oct-Dec 2014 grew 27% to 238,668 units while average realisation stood at Rs 6,277 per unit compared with Rs 6,067 in Oct-Dec 2013

Shares of Symphony surged over 7% to Rs 2,153, after hitting a record high of Rs 2,225, on the back of robust second quarter earnings because of higher volume growth and realisations on air coolers.

Net profit during the second quarter ended December 31, 2014 increased 45% to Rs 36 crore from Rs 25 crore in the same quarter last fiscal.

Air cooler sales grew 27% to 238,668 units while average realisation stood at Rs 6,277 per unit compared with Rs 6,067 in the second quarter ended December 31, 2013, the company said in a release.

Net sales during the second quarter increased 31% to Rs 151.41 crore compared to Rs 115 crore in the corresponding quarter last fiscal.

The stock opened at Rs 2,180 and touched a high of Rs 2,225. At 10:30AM, over 57,000 shares were traded on both the stock exchanges.