Whirlpool net up three-fold
An over three-fold increase in net profit for the quarter ended March 31 ensured that the stock price of durable major Whirlpool India hit the upper circuit today, touching Rs 239.55. This is also its 52-week high.
The company, for the record, posted its best-ever net profit for the quarter at Rs 57.72 crore, as against Rs 17.27 crore last year. Net sales increased 57 per cent to touch Rs 556.29 crore, as against Rs 355.84 crore last year.
For the full year ended March 31, Whirlpool’s net profit surged over two-fold to touch Rs 145.02 crore, against Rs 70.52 crore last year. Net sales increased 30 per cent to touch Rs 2,137.48 crore as against Rs 1646.65 crore last year.
According to Whirlpool India’s vice-president, corporate affairs & strategy, Shantanu Dasgupta, a key contributor to the company’s performance during the year and quarter was overall growth it saw in categories such as air conditioners, referigerators and washing machines, big ones for the company.