Mumbai, May 18 (IANS). After Symphony Limited reported a loss in the fourth quarter of FY26, the company’s shares fell by about 8 percent on Monday. This was the biggest single-day fall in shares since February 2025.
The reason for this is the loss in the company’s Australian operations.
The stock was trading 7.47 per cent lower at Rs 725.5 during afternoon trade. The company’s shares have fallen 11 per cent in the past one month, registering a decline of 21 per cent so far in 2026, and nearly 45 per cent from the recent 52-week high of Rs 1,309.
Symphony reported a consolidated net loss of Rs 218 crore for the March quarter, compared to a net profit of Rs 79 crore in the corresponding period last financial year.
The sharp decline in profits was mainly due to loss related to operations of its Australia-based subsidiary.
According to exchange filings issued by the company, revenue from operations declined 30.7 per cent year-on-year to Rs 338 crore in the quarter, compared to Rs 488 crore in the corresponding quarter of the previous financial year.
Operating performance also remained under pressure in the March quarter. EBITDA declined 53.3 per cent to Rs 50 crore from Rs 107 crore a year ago, while EBITDA margin declined to 14.8 per cent from 21.9 per cent in the same period.
Symphony recorded an impairment of Rs 173.09 crore on goodwill relating to Climate Holdings Pvt Ltd (formerly known as Symphony AU Pvt Ltd).
The company reported that the loss was due to a decline in business performance and profits as well as failure to achieve expected business despite management’s efforts.
Symphony’s performance during the quarter was impacted by weather-related challenges, geopolitical uncertainties and operational issues at its international subsidiaries.
However, management indicated that subsidiaries performed relatively better than independent operations.
–IANS
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