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Whirlpool posts highest ever sales in Q4, net rises 7% to Rs 74 cr

Received highest sales at Rs 4,360 cr, 14.5% higher than Rs 3,808 cr in 2015-16

Arnab Dutta  |  New Delhi 

Whirlpool posts highest ever sales in Q4, net profit rises 7% to Rs 74 cr

Home appliances major Whirlpool's revenue rose 19.2 per cent year for the fourth quarter (Q4) ended March 31, 2017 to Rs 1,114 crore from Rs 935 crore last year.

Its net profit grew 7.4 per cent to Rs 74.4 crore as a 36 per cent increase in its income tax expenses offset growth in its operating profit.

The firm's yearly sales, like its March quarter top line, remained highest ever at Rs 4,360 crore — 14.5 per cent higher than Rs 3,808 crore in 2015-16. 

Its net profit grew 29.4 per cent to Rs 310.5 crore from Rs 240 crore, year on year. While cost of materials and procured goods shot up by 17 per cent and 38 per cent, changes in inventories partially offset them. As a result, it's operating margin improved by 137 basis points to 10.74 per cent from 9.37 per cent last year.

"After a challenging December quarter, we have seen some growth coming back into the industry in the March quarter. Despite some commodity spikes, the focus on driving distribution and new product launches has helped us post a strong result," said Sunil D'Souza, managing director, of India.

"While, we will have to tackle the transition into GST by end-June, we see continued growth in the industry based on positive macroeconomic indicators," D'Souza added.