Ahmedabad-based air cooler company Symphony Ltd today reported a 40 per cent increase in standalone net profit at Rs 31.14 crore for the quarter ended June 30, on the back of higher sales. The company had posted a net profit of Rs 22.26 crore in the previous year. Symphony Ltd’s net sales in the quarter under review stood at Rs 152.15 crore, up 38 per cent as against Rs 110.49 crore in the corresponding quarter of previous fiscal, the company said in a BSE filing. In a separate filing, the company said its Board of Directors in their meeting held on July 26, 2016 have approved a bonus issue of one equity share for every equity share (1:1) held as on a record date to be determined. The company also declared interim dividend of Rs 1.50 per equity share. Symphony shares were trading at Rs 2,478, up 1.64 per cent on BSE in the pre-close session.