Senior Correspondent, IndianRetailer.com & Retailer Magazine Oct 28, 2017 / 1 MIN READ
Home appliances maker Whirlpool of India reported a 25.08 per cent increase in net profit at Rs 73.45 crore for the quarter ended September 30.
Company had posted a net profit of Rs 58.72 crore in the corresponding period last year.
Total income during the second quarter went up by 24 per cent to Rs 1,187.35 crore from Rs 957.53 crore in the year-ago period, Whirlpool of India Ltd said in a BSE filing.
Whirlpool of India Chairman and Executive Director Arvind Uppal said "There has been a strong performance aided by an early Diwali but adversely impacted due to the GST transition. We are starting to see the re-emergence of raw material headwinds but remain extremely positive about the future on the back of strong demand."
The consolidated financial results include both the company's financial performance and that of its subsidiary, Elica PB, a kitchen appliances maker, which was acquired during FY2021-22.
Eswar joins Whirlpool of India from Ki Mobility Solutions, where he is currently holding the position of CEO and President, according to a regulatory filing.
In the last two years, the market has been very volatile but the expectation is that in the next two to three years, the washing machines segment will grow in double digits.
Consumer durables firm Whirlpool of India today reported a 67.37 per cent increase in its standalone net profit at Rs 83 crore for the first quarter ended June 30, on robust operating margins.
Copyright © 2009 - 2024 Franchise India Holdings Ltd