Symphony jumps after strong Q4 earnings

Symphony surged 7.51% to Rs 300.05 at 11:28 IST on BSE after net profit jumped 31.67% to Rs 25.90 crore on 27.07% growth in total income from operations to Rs 114.42 crore in Q4 June 2013 over Q4 June 2012.

The Q4 result was announced after market hours on Monday, 5 August 2013.

Meanwhile, the S&P BSE Sensex was down 215.09 points or 1.12% at 18,967.17.

On BSE, 6,500 shares were traded in the counter as against average daily volume of 2,375 shares in the past one quarter.

The stock hit a high of Rs 307.30 and a low of Rs 284.60 so far during the day. The stock had hit a record high of Rs 473.45 on 8 October 2012. The stock had hit a 52-week low of Rs 272.10 on Monday, 5 August 2013.

The stock had underperformed the market over the past one month till 5 August 2013, sliding 11.72% compared with the Sensex's 1.61% fall. The scrip had also underperformed the market in past one quarter, declining 20.74% as against Sensex's 2.01% fall.

The small-cap company has equity capital of Rs 7 crore. Face value per share is Rs 2.

Symphony's net profit rose 24.51% to Rs 62.68 crore on 24.88% growth in total income from operations to Rs 321.86 crore in the year ended 30 June 2013 over the year ended 30 June 2012.

On consolidated basis, Symphony's net profit rose 13.2% to Rs 60.11 crore on 22.18% growth in total income from operations to Rs 390.69 crore in the year ended 30 June 2013 over the year ended 30 June 2012.

Symphony's board of directors at a meeting held on Monday, 5 August 2013, decided to open a branch in United Arab Emirates (UAE). UAE is an important hub for trading activities for MENA region viz. Middle East North Africa. This region includes GCC countries (Gulf Cooperation Council), other Middle-eastern countries and North African countries. The whole of this region has vast and promising markets for air coolers, Symphony said. On opening of this branch, the company foresees to expand its presence in this area, it added.

Symphony's board recommended a dividend of Rs. 6.50 per share for the year ended 30 June 2013.

Symphony is a leading air-cooler maker catering to 60 countries across the globe.

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