India's Symphony loses 7% after sharp slide in Q4 earnings

Symphony

05/05/2023 09:27

** Shares of Symphony Ltd  SYMP.NS  fall as much as 6.89% to
 a three-month low of 925 rupees
    ** Stock drops after the air cooler and other appliances
maker reports 75% YoY fall in consolidated net profit to 160 mln
rupees in March quarter 
    ** Core profit falls 72% YoY in Q4 to 230 mln rupees while
revenue loses 20% in the March quarter
    ** Core profit margin contracts to 7.47% from 21.35% in the
corresponding quarter, a year ago
    ** Trading volume is 211,734 shares, nearly quadruple the
30-day avg - Refinitiv data
    ** Of seven analysts tracking Symphony, five maintain "buy",
one suggests "sell" and one recommends "hold"; median PT is
1,200 rupees
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))