Wed Oct 09 04:17:03 UTC 2024: ## Symphony Shares Surge 4% on Strong Q1 Results
**Mumbai, India -** Symphony Limited, a leading manufacturer of air coolers, saw its share price climb by 4% on Tuesday, reaching Rs 1,746.5. This surge followed the company’s impressive first-quarter results, showing a 266.7% year-on-year increase in net profit and a 75.8% jump in net sales.
The company’s robust performance also pushed the BSE CONSUMER DURABLES index up by 0.6%, reaching 65,430.6. Other notable gainers in the index include Blue Star (up 2.9%) and DIXON TECHNOLOGIES (up 1.8%).
Over the past year, Symphony’s share price has skyrocketed by 101.6%, moving from Rs 866.2 to Rs 1,746.5. The BSE CONSUMER DURABLES index also experienced significant growth, gaining 42.7% during the same period.
The strong performance of Symphony is attributed to a surge in demand for its air coolers during the summer season. The company reported a net profit of Rs 880 million for the quarter ended June 2024, compared to Rs 240 million a year ago. Net sales during the period reached Rs 5,310 million, up from Rs 3,020 million in April-June 2023.
While the company’s revenue for the year ended March 2024 saw a slight dip of 2.7% to Rs 11,561 million, its net profit rose by 27.8% to Rs 1,481 million.
Equitymaster, a financial research firm, has highlighted Symphony’s strong performance, stating that the company’s current Price to earnings ratio stands at 56.6, based on rolling 12-month earnings.
The company’s positive outlook and recent strong results suggest that Symphony is well-positioned to continue its growth trajectory in the coming months.
First Piper 