Symphony commences operations from Surat SEZ

15 Jun 2011 Evaluate

Symphony has commenced operations from Surat SEZ. The export profit from Surat SEZ will be 100% exempt from income tax for initial 5 years starting from year 2011-12 and 50% exempt for next 5 years.

The company expects to register healthy growth in FY 2010-11 (year ending June, 2011) compared to FY 2009-10 on year-on-year basis. This is despite weak summer of 2011 leading to decline in performance in last quarter (April to June, 11) in domestic market. On account of robust performance in first 9 months of the year in domestic market and in exports for the whole year, it expects year-on-year growth to be possible.

Symphony has established itself as a world leader in evaporative air coolers. It offers a wide range of air coolers, air conditioners, water heaters, sauna heaters including evaporative air coolers, desert coolers, and room coolers. 

Symphony has reported net profit for the quarter ended March 31, 2011 stood at Rs 20.52 crore as compared to profit of Rs 14.37 crore for the quarter ended March 31, 2010 up by 42.79%. The company's total income was up by 41.77% to Rs 99.61 crore for the quarter under review as against Rs 70.26 crore of total income for the similar quarter a period ago.

Symphony Share Price

1342.45 -10.20 (-0.75%)
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