Symphony Ltd posts 51% rise in net profit

Gross revenue stood at Rs 110.40 cr as against Rs 78.05 cr for the same period in the previous fiscal

Ahmedabad-based air cooler company Symphony Limited on Tuesday reported a 51% rise in net profit for the first quarter of 2014-15. The company follows July-June as its financial year.

The company posted a net profit of Rs 21.63 for the first quarter of the current financial year as against Rs 14.32 crore in the corresponding quarter of previous fiscal (2013-14), a statement issued by the company said.

Gross revenue, the statement added, for the first quarter stood at Rs 110.40 crore as against gross revenue of Rs 78.05 crore for the same period in the previous fiscal.

Commenting on the financial performance of the company, Nrupesh Shah, executive director, Symphony Limited, said, "The sustained growth is on account of strong performance across all business verticals. We are witnessing buoyant demand across the geographies and across the models."