Symphony, a producer of air coolers and appliances, announced an 85.71 per cent increase in consolidated net profit at Rs 39 crore for the third quarter ending December 2022 on Wednesday.
Symphony reported a net profit of Rs 21 crore in the October-December quarter a year earlier in a regulatory filing.
Revenue from activities increased 35.12 per cent to Rs 277 crore in the current quarter from Rs 205 crore the previous year.
This was driven by strong off-season sales and very optimistic and buoyant trade mood during the quarter, according to Symphony’s quarterly report.
The company’s income from the Indian market was Rs 198 crore, while revenue from overseas markets was Rs 79 crore.
Total costs in the quarter were Rs 243 crore, up 32.06 per cent from the previous year.
Symphony also said that its board of directors authorised a Rs 200 crore share repurchase at Rs 2,000 per share, subject to shareholder approval, at a meeting on Wednesday.
On the BSE, Symphony shares closed at Rs 1,047, up 8.47 per cent on Wednesday.
