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An announcement from Symphony Limited ( (IN:SYMPHONY) ) is now available.
Symphony Limited has announced that it received a favourable order from the GST Department in Lucknow, Uttar Pradesh, relating to the financial year 2017-18. The tax authority reduced the company’s overall demand for GST, penalty and interest to Rs.28,162 from an earlier Rs.2.64 crore and fully dropped prior interest liabilities of about Rs.2.65 crore.
The company stated that the revised order will have no material impact on its financials, operations or other business activities. The outcome removes a significant contingent liability overhang, clarifying Symphony’s indirect tax position for the period in question without altering its current operating or financial outlook.
More about Symphony Limited
Symphony Limited is an Indian consumer durables company known for its air-cooling solutions, operating in the home and commercial cooling segment. Headquartered in Ahmedabad, the company focuses on energy-efficient cooling products for domestic and international markets, catering to both retail consumers and institutional buyers.
Average Trading Volume: 8,137
Technical Sentiment Signal: Sell
Current Market Cap: 55.12B INR
For a thorough assessment of SYMPHONY stock, go to TipRanks’ Stock Analysis page.