Symphony Ltd. shares fell on Friday after profit halved and revenue fell in the first quarter of the current fiscal as unseasonal rains in the April-June period weighed on demand for cooling products.
Consolidated net profit fell 52% to Rs 42 crore compared to Rs 88 crore in the year-ago period, according to a stock exchange filing. Notably, expenses 26% declined in the first quarter. The company also had an exceptional gain of Rs 4.5 crore.
Revenue from operations dropped 36% to Rs 251 crore. It was Rs 393 crore last year.
The company also fared poorly in terms of operational profitability. Earnings before interest, tax, depreciation and amortisation fell 70% from Rs 87 crore to Rs 26 crore.
That led to a significant margin contraction from 22.1% to 10.4%.
India witnessed unseasonal rains in April and May, the peak summer season when demand for cooling products surge. The monsoon rains also kicked in earlier than expected.
Cooler weather weighed on Symphony, which manufactures and sells residential, commercial, and industrial air coolers in the domestic and international markets.
Revenue from the domestic market fell to Rs 201 crore in the June quarter, compared to Rs 348 crore in the corresponding period last year.
Symphony Share Price Falls
Symphony shares fell nearly 4% intraday to Rs 1,071 apiece on the NSE, after the results.
Symphony shares fell nearly 4% intraday to Rs 1,071 apiece on the NSE, after the results.
Besides, Symphony announced its first interim dividend of Rs 1 per share for the financial year 2025‐26, amounting to Rs 6.87 crore.
Shares fell nearly 4% intraday to Rs 1,071 apiece on the NSE, after the results. The benchmark Nifty 50 was down 0.4%. The relative strength index was at 55.
The stock has fallen 8% in the last 12 months and 18% so far this year.
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