Companies

Whirlpool India Q3 net falls 6.7%

Our Bureau New Delhi | Updated on February 04, 2021

Consumer durables major Whirlpool of India has posted a consolidated net profit of ₹71.36 crore for the quarter ended December 31, 2020, down 6.7 per cent from ₹76.49 crore in the previous-year period. Consolidated total income grew 16.14 per cent to ₹1,522.34 crore.

In a statement, Arvind Uppal, Chairman, Whirlpool of India Ltd, said: “The reported profits have been impacted by a number of one-time items. We are witnessing strong topline growth along with market share gains. The underlying profitability is also very healthy. Overall economic trends are looking positive and we continue to remain very optimistic about our business."

Vishal Bhola, Managing Director, said the company saw double digit revenue growth and healthy underlying profitability during the festival season.

“We continue to see a very robust demand for appliances. The quarter saw growth in metros and large towns coming back while tier 2/3 cities continued on their rapid growth trajectory. Overall, we see a step change in the penetration of the durables category and with a strong pipeline of consumer relevant innovations, we are very optimistic about our short- and medium-term prospects,” he added.

Published on February 04, 2021

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