Symphony Q2 Results Live : Symphony has announced its Q2 results on October 29, 2024, showcasing a robust performance with a revenue increase of 14.55% year-over-year and a striking 60% rise in profit. Despite this impressive annual growth, the company faced challenges compared to the previous quarter, where revenue and profit declined by 40.68% and 36.36%, respectively.
In terms of operating expenses, Symphony reported a significant decline of 47.67% in selling, general, and administrative expenses quarter-over-quarter, although these expenses rose by 18.42% year-over-year. This efficiency in managing expenses contributed positively to the company’s profitability.
The operating income for the quarter witnessed a decline of 45.28% compared to the previous quarter, yet it marked a substantial increase of 70.59% year-over-year. This highlights Symphony’s ability to enhance its operational performance over a longer time frame despite recent quarterly challenges.
The earnings per share (EPS) for Q2 stood at ₹8.11, reflecting a year-over-year growth of 60.28%. This positive EPS growth is indicative of Symphony’s strong financial health and its commitment to delivering value to shareholders.
Over the last week, Symphony has delivered a negative return of -12.32%. However, the company has shown impressive returns over the past six months at 51.8% and an outstanding 67.48% year-to-date return, suggesting a strong recovery and growth trajectory in the long run.
Currently, Symphony has a market capitalization of ₹10,074.78 Cr, with a 52-week high of ₹1880.95 and a low of ₹820, indicating considerable volatility yet potential in its stock performance.
As of October 31, 2024, out of seven analysts covering Symphony, ratings are mixed with two analysts recommending a ‘Sell’, two suggesting ‘Hold’, one ‘Buy’, and two ‘Strong Buy’. The consensus recommendation remains a ‘Buy’, signaling confidence in Symphony’s future prospects.
In addition to its impressive financial results, Symphony has declared an interim dividend of ₹2.0. The record date for this dividend is set for November 7, 2024, along with the ex-dividend date, providing an additional incentive for investors.