City-based air-cooler maker Symphony Ltd has registered a 76 per cent jump in consolidated net profit for the financial year ended June 2014. Net profit for the year stood at Rs 106 crore as against Rs 60 crore registered in the previous fiscal year.
The company, which follows the July-June financial year, registered 41 per cent growth in consolidated net sales for the year at Rs 532 crore as against Rs 378 crore last year.
The BSE-listed company announced a final dividend of Rs 11 per share (i.e. 550 per cent on an equity share of face value of Rs 2 each). Further an interim dividend of Rs 2 per equity share was paid during the year.
The company’s EBITDA margins for fiscal 2013-14 stood at 26 per cent.
On standalone basis, company’s net profit jumped by 58 per cent at Rs 99 crore for the fiscal 2013-14 as against Rs 63 crore last year. Standalone net sales for the year stood at Rs 451 crore, up 46 per cent from Rs 308 crore last year.
For the fourth quarter ended June 30, 2014, Symphony posted a standalone net profit of Rs 32.73 crore against a net profit of Rs 25.90 crore in the corresponding quarter of the previous year. Net sales for the quarter grew by 36 per cent to Rs 151 crore as against Rs 111 crore reported for the same period last year.
Commenting on the financial performance of the company, Nrupesh Shah, Executive Director, Symphony Ltd, said, “The growth is on account of continuous innovation, strong branding, distribution network and undisputed market leadership. Symphony commands more than 50 per cent market share in the organised sector.”
Symphony shares ended 5.34 per cent up at Rs 1,150 on the Bombay Stock Exchange (BSE) on Thursday.