Symphony reports Q3 PAT of Rs68cr; Revenue up 16.61% YoY

25 Jan 2022 , 05:43 PM

Symphony Ltd. announced its results for the quarter ending December 2021. The company’s performance for the quarter was satisfactory, as it reported growth in all avenues.

The company reported consolidated revenue of Rs 653 crore for Q3 FY’22 as against Rs 560 crore for 9M ending Q3 FY’21, showing a growth of 16.61% YoY. While company’s standalone revenue for the 9M period stood at Rs 388 crore against Rs 275 crore for the previous 9M period last year, reflecting a growth of 41.09% YoY.

It reported a standalone PAT of Rs 68 crore for the 9M period ending December 2021, against Rs 63 crore for the corresponding 9M period, reflecting an increase of 7.94% YoY. While, its consolidated PAT for the 9M period ending December 2021 was Rs 57 crore, as against Rs 44 crore for the previous corresponding 9M period, increasing by 29.55% YoY.

The company’s Standalone Gross Profit and EBITDA margin % during the quarter are lower due to Large revenue expenses incurred for various initiatives related to Direct to Consumer Sales (D2C), Large Space ventilated air cooler (LSV), exports to the USA, and new upcoming air cooler models. Also, Company initiated various measures to support the trade partners to take care of their inventory and better sales performance in subsequent quarters.

The company’s outlook is having a premium brand with various path-breaking models for household, commercial and industrial needs, and being a market leader, we are quite optimistic for growth and performance in a medium to long term period that remains intact.