Whirlpool of India Q3 net up 48% at Rs 31.54 cr

Consumer durables Whirlpool of India maker today reported 48.42% increase in its net profit at Rs 31.54 crore for the third quarter ended December 31, 2014 on the back of improved product mix.

The company had posted a net profit of Rs 21.25 crore in the same period last fiscal, Whirlpool of India said in a filing to the BSE.

Net sales during the period under review stood at Rs 689.99 crore as against Rs 647.15 crore in the third quarter last fiscal.

Commenting on the results, Whirlpool of India Chairman Arvind Uppal said: "Improved product mix and cost productivity helped offset the softness in demand post Diwali. The drop in raw material prices augurs well for the industry and we remain optimistic about the future outlook."

It is also developing plans to expand its air conditioner, microwave and water purifier businesses, the company said.

Shares of Whirlpool of India were trading at Rs 699 per scrip in the afternoon trade, down 3% from the previous close on the BSE.