Symphony falls 9% on disappointing Q2 results

The stock slipped 9% to Rs 871 on the BSE in intra-day trade after the company reported a 38% YoY decline in consolidated net profit at Rs 310 million in September quarter.

Shares of Symphony have slipped 9% to Rs 871 per share on the BSE in intra-day trade after the company reported 38% year-on-year (YoY) declined in consolidated net profit at Rs 310 million in September quarter (Q2FY19), on weak sales. The company engaged in air cooler business had a profit of Rs 500 million in the previous year quarter.

Net sales of the company grew 5% YoY at Rs 2.22 billion against Rs 2.11 billion in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, tax, depreciation and amortization) margin declined to 20.5% in Q2FY19 from 33.4% in