Symphony share worth slumped over 10% on Wednesday’s session after the corporate reported a web lack of ₹10 crore for the fiscal’s third quarter ended December (Q3FY25) as towards web revenue of ₹41 crore in Q3FY24. The patron durables producer reported a web loss primarily attributed to a one-time lack of ₹46 crore, which considerably impacted their monetary efficiency. In distinction, the identical quarter of the earlier yr didn’t embrace any distinctive objects.
In its submitting, the corporate talked about that for the quarter ending December 31, 2024, it has recognised a provision for uncertain money owed totaling ₹45.99 crores, categorised as an distinctive merchandise. This new provision provides to these established in earlier intervals and is expounded to receivables owed by M/s Pathways Retail Pvt Ltd, Delhi (E-Com distributor). As of December 31, 2024, the Mother or father Firm has accounted for the complete excellent quantity from this distributor as a uncertain debt.
The income for the quarter skilled a 2% lower year-on-year, totaling ₹242 crore. The corporate has declared its third interim dividend of ₹2 per share, with the report date set for February 11.
Symphony share worth at the moment
Symphony share worth at the moment opened at an intraday excessive of ₹1,453.95 apiece on the BSE, the inventory touched an intraday low of ₹1,278.65 per share. Prashanth Tapse, Analysis Analyst, Senior Vice President of Analysis at Mehta Equities stated that Symphony share worth fell practically 9% touching that assist of 1,300. A significant assist is positioned at 1,250 mark beneath which 1,200 appears to be a chance. Overhead resistance is positioned close to 1,350-1,400 ranges in the direction of which the inventory can see a brief masking transfer in the direction of.
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