Whirlpool of India hits 52-week high on strong Q1 earnings

Q1 net profit grew 27% at Rs 64.6 crore on year-on-year basis.

Whirlpool of India has surged 12% to Rs 264 also its 52-week high, after reporting a record quarterly profit of Rs 64.6 crore for the quarter ended June 30, 2012 on account of better sales across all segments. The consumer electronics maker had reported a profit of Rs 51 crore in previous year quarter and Rs 37.2 crore in March quarter.

The total income from operations grew 10% at Rs 893 crore on year-on-year basis. The company reported sales volume growth of more than 5% during the quarter across customer segments bucking the trend of a declining market.

"The company's strong position across customer segments resulted in sales volume growth of more than 5% during the quarter, bucking the trend of a declining market," Whirlpool of India said.

The stock opened at Rs 238 and hit a low of Rs 236 on the NSE. As many as a combined 266,712 shares have already changed hands on the counter in morning deals, against an average around 106,000 shares that were traded daily in past two weeks.