Symphony Q1 Results Achieves ₹106.00 Crores in Operating Income

Symphony Q1 Results: In the quarter ending in June 2024, Symphony had a total revenue of ₹531.00 crores. This is an increase compared to the previous quarter (QoQ) when the revenue was ₹307.56 crores. However, when we look at the year-over-year (YoY) comparison with June 2023, where the revenue was ₹302.00 crores, the growth looks strong. The company’s total operating expenses for June 2024 were ₹425.00 crores, which increased from ₹291.62 crores in March 2023 (QoQ). Yet, compared to June 2023, when the expenses were ₹285.00 crores, this shows a significant rise.

Symphony’s operating income in June 2024 was ₹106.00 crores, a notable increase from ₹15.94 crores in the previous quarter (QoQ) and up from ₹17.00 crores in June 2023 (YoY). Net income before taxes for June 2024 was ₹112.00 crores, showing a solid improvement from ₹22.94 crores in March 2023 and ₹30.00 crores YoY. Finally, the diluted normalized EPS in June 2024 was ₹12.76, up from ₹2.25 in March 2023 and ₹3.67 in June 2023, indicating positive growth over the year (YoY).

Here's the summary of Symphony's Q1 Results in a simple table format:

(All figures in crores except per share values)

Source: Here 

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Symphony Q1 Results

Symphony’s Total Income for this quarter is ₹540 million, which is an increase from ₹341 million in the previous quarter. This income comes from two main sources: revenue from operations, which is ₹531 million, and other income of ₹9 million.

Symphony’s Total Expenses are ₹428 million, up from ₹283 million last quarter. The expenses include costs for materials, employee salaries, and other operational costs. One significant increase in expenses is the cost of materials consumed, which is ₹162 million, indicating higher production costs.

Symphony made a profit before tax of ₹112 million, which is higher than ₹58 million from the previous quarter. After deducting the tax expense of ₹24 million, the net profit stands at ₹88 million, which is a significant growth from ₹48 million last quarter.

Symphony’s Earnings Per Share (EPS) is ₹12.76, showing an improvement from ₹7.02 in the last quarter. This indicates that Symphony is performing well, with increased income and profit compared to the previous periods. 

Here's a simplified summary of the financial results you provided for the quarter ended June 30, 2024, along with comparisons to previous periods:

(Rs. in crores)

Symphony Stock Performance

The Symphony table shows important financial details about the company. It has a market cap of ₹ 12,583 crores, which means this is the total value of all its shares combined. The current stock price is ₹ 1,825. The stock has reached a high of ₹ 1,881 and a low of ₹ 820 in the past. The price-to-earnings (P/E) ratio is 59.4, indicating how much investors are willing to pay for each unit of earnings. The book value per share is ₹ 109, and it pays a small dividend yield of 0.71%.

Here’s the information you provided presented in a clear table format:

Quarterly Results

Symphony's financial results for December 2023, March 2024, and June 2024 show strong growth. In December 2023, the company reported sales of ₹247 crores and a net profit of ₹41 crores. By March 2024, sales increased to ₹332 crores, and net profit rose to ₹48 crores. In June 2024, sales surged to ₹531 crores, with a remarkable net profit of ₹88 crores. This growth reflects the company's effective strategies and increased demand for its products.

Here’s a summary of the quarterly financial results for December 2023, March 2024, and June 2024, with the relevant particulars:

(Consolidated Figures in Rs. Crores)

About Symphony 

Symphony is an Indian company that makes air coolers for homes and industries. It was founded in 1988 by Achal Bakeri and is based in Ahmedabad, Gujarat. Originally, it was named Sanskrut Comfort Systems. The company became popular for its quality products and launched its first TV advertisement in 1990. In 1994, Symphony became a public company and was listed on the stock exchanges in India.

Over the years, it has expanded its business to about 60 countries, making it a well-known name in the cooling industry. In 2006, Symphony acquired a company in the USA called IMPCO, which helped it grow even more. In 2010, it introduced industrial coolers to meet the needs of businesses. Today, Symphony employs over 400 people and continues to innovate in producing energy-efficient cooling solutions for its customers.