Symphony rises after Q2 PAT spurts 10% YoY to Rs 33 cr

Symphony gained 2.58% to Rs 883.80 after the company's consolidated net profit jumped 10% to Rs 33 crore on 24.55% increase in revenue from operations to Rs 274 crore in Q2 FY23 over Q2 FY22.

Consolidated profit before tax stood at Rs 43 crore in quarter ended 30 September 2022, registering a growth of 7.5% from Rs 40 crore posted in the corresponding quarter previous year.

Gross margin stood at 44.6% in Q2 FY23 as compared with 45.4% reported in the same period a year ago.

Commenting on the outlook, Symphony said that decent visibility of consumer sales in the domestic market and it will explore new markets globally. Close watch on evolving global economic headwinds which may translate into demand headwinds in some overseas market, it added.

Meanwhile, the company's board have recommended 2nd interim dividend of Rs 2 per equity share for FY 2022-23.

Symphony manufactures evaporative air coolers for domestic, commercial, and industrial customers in 60 countries across the globe.

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