Whirlpool of India, a subsidiary of US major Whirlpool Corporation, posted a net profit of ₹58.7 crore for the quarter ended September 30, up 64.5 per cent against ₹35.7 crore in the corresponding quarter previous fiscal.

Total income grew by 20.1 per cent to ₹939 crore during the period.

The company said that continued improvement in margins across all product categories, driven by material and other cost productivity initiatives, contributed to the record quarter performance.

Arvind Uppal, Chairman at Whirlpool of India Ltd and President Asia Pacific, Whirlpool Corporation, said: “Strong growth continued on the back of a pick up in urban demand, aided by the favourable timing of Diwali. The impact of good monsoon, 7th Pay Commission, increased infrastructure spending and a benign cost environment augurs well for the industry.”

He said the company continues to remain bullish on its business in India.

Sunil D’Souza, Managing Director ,Whirlpool of India, added, “We saw growth in consumer demand across categories this quarter, with the initial impact of the Pay Commission payouts and the good monsoon. The favourable shift in festival timing also helped comparisons versus last year.”

He said that the company’s focus on, “strong execution of products & plans, leveraging commodity opportunities and the drive for costs & efficiencies translated into margin improvements and healthier profits.”

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