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Home >Companies >Company Results >Whirlpool India reports 4.6% jump in September quarter profit

NEW DELHI: Home appliances company Whirlpool of India on Monday reported a 4.64% year-on-year jump in its September quarter consolidated net profit to 134.67 crore.

The number could have been higher but for higher tax outgo. Profit before tax stood at 178.69 crore.

Revenue from operations at the maker of washing machines and refrigerators for the quarter rose 14.8% to 1,599.5 crore. Consolidated EBITDA was up 27.8% year-on-year to 181.2 crore.

“The quarter saw a strong revenue and profit delivery on the back of a healthy double-digit volume growth combined with market share gains," Vishal Bhola, managing director, Whirlpool of India Limited, said in a statement.

Makers of household appliances have benefitted from pent-up demand as well as need-based buying as consumers spent more time at home and bought appliances to ease household chores.

This, said Bhola, helped with sustained recovery across most of the categories. Bhola said the company is expecting a "good festive season."

“Based on the experience of our Onam sales, we are confident of the demand trajectory rising and expect a good festive season ahead. With people spending more time at home, we are seeing them go that extra mile to upgrade their appliances. Overall, we see a positive step change in the penetration of the durables category and are optimistic about the short- and medium-term industry growth," he said.

Shares of the company traded 2.2% lower at 2,072.

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