The Hindu Business Line : Whirlpool set for break-even

Home Appliances major Whirlpool of India said it will invest around $40-45 million by 2010 for product development even as the company hopes to break-even for the financial year ended March 2008 . “It will be a record turnover for us and we hope to break-even in the fiscal ended March 31, 2008,” said Mr Shantanu Das Gupta, Vice-President Sales and Marketing, Whirlpool of India. The company has already reported a profit of Rs 15 crore for the April- December per iod. For the financial year 2006-07, Whirlpool had recorded a net loss of Rs 5.32 crore against the total income of Rs 1,496.78 crore. The company, which launched a slew of products across five categories – refrigerators, washing machines, air conditioners, microwave ovens and water purifiers, said these products were targeted at the homemaker. Whirlpool of India has earmarked Rs 77 crore as advertising and marketing, an increase of 10 per cent from 2007. Asked if the company is looking at increasing the prices of white goods, Mr Arvind Uppal, Managing Director, said the spiralling steel prices were hitting margins.

— Our Bureau

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