Whirlpool Q1 profit up 67.37% to Rs83 crore
The firm's net sales went up 19.18% to `1,020.10 crore during the quarter as against `855.89 crore from a year ago
New Delhi: Consumer durables firm Whirlpool of India Ltd on Thursday reported a 67.37% increase in its standalone net profit at ₹ 83 crore for the first quarter ended 30 June, on robust operating margins.
The company had posted a stand-alone net profit of ₹ 49.59 crore during the same period of the previous fiscal. Net sales went up by 19.18% to ₹ 1,020.10 crore during the April-June quarter as against ₹ 855.89 crore in the same period last fiscal, Whirlpool said in a statement.
“We have delivered a very strong operating performance, which combined with an improvement in consumer demand has resulted in significant increase in our operating profits. We remain optimistic about our performance in the future," said Arvind Uppal, Whirlpool of India chairman & managing director and president south asia and asia pacific, Whirlpool Corp.
On the outlook, the company said its plan to introduce over 200 new models in 2014 is on track. It has already put into market a new range of air conditioners, refrigerators and washing machines, the statement added.
“The focus on enlarging its category footprint by aggressively expanding its high-end built in range of kitchen appliances, including refrigerators, ovens, dishwashers and coffee makers, and its water purifier business continued," said Whirlpool of India. Shares of the company were trading at ₹ 409.00 per scrip on BSE during the afternoon trade, up 9.05% from its previous close.
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