Symphony Shares Tanked 8% After Release of Q3FY25 Result: Do You Own?

On February 5, 2025, Symphony shares dropped by as much as 8% and touched the day low of ₹1278.65 at 2:05 PM after opening at ₹1453.95. The fall in Symphony shares came after the release of its December quarter results.

Symphony Q3FY25 Financial Highlights

Symphony’s revenue for the quarter fell by 2% year-on-year to ₹242 crore, while its Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) decreased by 34% to ₹29 crore. The company reported a net loss of ₹10 crore for the quarter, compared to a net profit of ₹41 crore in the same quarter the previous year. The net loss was primarily due to a one-time ₹46 crore loss that pushed the company into the red. There were no exceptional items in the corresponding quarter last year.

Symphony made a provision of ₹46 crore for doubtful debts during the quarter, which it classified as an exceptional item. This provision relates to receivables from M/s Pathways Retail Pvt. Ltd. of Delhi, with the entire outstanding amount from this distributor now written off as doubtful debt. Excluding the exceptional item, Symphony’s net profit still declined by 44% year-on-year, dropping to ₹28 crore from ₹50 crore in the same period last year. Symphony’s EBITDA margin also contracted by over 500 basis points, falling from 17.8% in the same quarter last year to 12%.

Symphony Declared Dividend

The company also declared its third interim dividend of ₹2 per share, with the record date set for February 11.

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