Companies

Growth in mass market drives Whirlpool India profit up 14%

Our Bureau New Delhi | Updated on February 04, 2019 Published on February 04, 2019

Whirlpool of India posted a net profit of ₹60.62 crore for the quarter ended December 31, 2018 — up 14.07 per cent as against ₹53.14 crore for the corresponding quarter previous fiscal. Revenue from operations grew by 26.5 per cent to ₹1,211.5 crore.

In a BSE filing, the company also said that its board has considered and approved capacity enhancement, modernisation and introduction cum diversification of manufacturing lines at its Ranjangaon and Puducherry plants with an investment of ₹407 crore over the next five years. In a statement, Arvind Uppal, Chairman, Whirlpool of India, said that the company saw another strong quarter despite volatility on raw materials and currency. “The mass market is showing positive signs and should be a key driver of growth. We remain optimistic about our business going forward,” he said.

Sunil D’Souza, Managing Director,Whirlpool of India, added, “The shift in festival timing had a positive impact on the top line. We saw high headwinds in commodities, currency and changes in duties during the quarter which also impacted the results.”

Published on February 04, 2019
This article is closed for comments.
Please Email the Editor