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

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

May 17, 2016 2:09 IST | India Infoline News Service
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.

Invest wise with Expert advice



Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp