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Air-cooler manufacturer Symphony Ltd. reported fourth-quarter consolidated net profit surged threefold to ₹48 crore from ₹16 crore in the year-earlier period. Revenue from operations increased 8% to ₹332 crore YoY. Gross margin for the quarter climbed 720 bps to 48.5%. For FY24, net profit grew 28% to ₹148 crore. Revenue from operations was down 3% to ₹1,156 crore. Gross margin at 48% increased 420 bps for the full year.
The board has recommended a final dividend of ₹8 (400%) per equity share of ₹2 each amounting to ₹55.17 crore for FY24. The total dividend for FY24 aggregates to ₹13 (650%) per equity share amounting to ₹89.64 crore.
Nrupesh Shah, Managing Director (Corporate Affairs), Symphony Ltd. said, “We reported high at ever quarterly India domestic revenue despite strong base effect (Q4FY23). The growth was fuelled by a searing summer with “above normal” temperatures. We are cashing in on India’s scorching summer in Q1FY25.”
