Symphony's Q3FY16 standalone net profit declines 3% yoy to Rs.46.52 crore : Estimates Mixed

India Infoline News Service | Mumbai |

The company’s standalone revenue stood at Rs. 137.87 crore, down 15.15% yoy but up 10.83% qoq.

Symphony, manufacturer of domestic air coolers, industrial air coolers, and water heaters, reported standalone net profit of Rs.46.52 crore for the quarter ended March 31, 2016, registering decline of 2.54% yoy, but growth of 27.42% qoq. The company’s standalone revenue stood at Rs. 137.87 crore, down 15.15% yoy but up 10.83% qoq.

Its standalone core operating profit of Rs. 57.87 crore for the quarter, clocked growth of 13.14% yoy and 36.45% qoq. Operating profit margin for the current quarter at 41.97% expanded by 635 bps yoy but contracted by 455 bps qoq.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 137.87 140.41 [1.81]
Standalone Net Profit 46.52 34.3 35.65

Standalone EPS for the quarter stood at Rs. 13.30.

Stock Commentary:

Symphony Ltd is currently trading at Rs. 2503, up by 9.7 points or 0.39% from its previous closing of Rs. 2493.3 on the BSE.

The scrip opened at Rs. 2526 and has touched a high and low of Rs. 2572.75 and Rs. 2389.15 respectively. So far 165918(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8721.19 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 2625 on 10-Mar-2016 and a 52 week low of Rs. 1649.05 on 13-Aug-2015. Last one week high and low of the scrip stood at Rs. 2450.9 and Rs. 2380.55 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 12 % and 13 % respectively.

The stock is currently trading below its 50 DMA.

BSE 1,284.45 [23.35] ([1.79]%)

***Note: This is a NSE Chart



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