Symphony feels the heat in Q1

Symphony is currently the top loser on the BSE, hitting a new 52-week low at Rs.1132.20, going down over 19%. Its LC is at 20% at Rs.1122.95.

There is apparently huge disappointment over the Q1FY19 results. On a 23% (YoY) dip in consolidated net sales at Rs.146 crore, the company’s net profit came in at Rs.20 crore, down 49%. Q1 is seasonally its best period as its summer time and demand for air coolers is at its peak. But this time around, clearly, the volumes did not take off as estimated.