Symphony shares tank nearly 10% on disappointing Q1 results

Shares of air cooler company

Symphony Ltd today plunged nearly 10 per cent after the

company reported a 23.82 per cent decline in standalone net

profit for the quarter ended June 30.

The stock slumped 9.76 per cent to close at Rs 1,201.80

on BSE. During the day, it tumbled 11.77 per cent to Rs 1,175.

On NSE, it dropped 9.77 per cent to end at Rs 1,205.05.

Ahmedabad-based air cooler company Symphony Ltd today

reported a 23.82 per cent decline in standalone net profit at

Rs 24.04 crore for the quarter ended June 30.

The company had posted a net profit of Rs 31.56 crore in

the previous year.

Its total revenue in the quarter under review stood at Rs

142.40 crore, down 9.84 per cent, as against Rs 157.95 crore

in the corresponding quarter of the previous fiscal, the

company said in a BSE filing.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)