Whirlpool India Q3 net up 23% to Rs 76.49 cr, income at Rs 1,311 cr

Whirlpool's total income was up 5.83% at Rs 1,310.69 crore during the quarter under review as against Rs 1,238.41 crore of the corresponding quarter last fiscal.

Consumer durables maker Whirlpool of India Ltd on Friday reported a 22.91 per cent rise in its consolidated net profit to Rs 76.49 crore for the quarter ending December 2019.

The company had posted a net profit of Rs 62.23 crore in the October-December quarter a year ago, Whirlpool of India said in a BSE filing.

Its total income was up 5.83 per cent at Rs 1,310.69 crore during the quarter under review as against Rs 1,238.41 crore of the corresponding quarter last fiscal.

Commenting on the results, Whirlpool of India Chairman Arvind Uppal said, "Whirlpool continued to deliver strong results on the back of market share gains."

"Revenue growth was temporarily impacted in the quarter because of a shift in Diwali timing and softer consumer demand. We expect to see consumer demand returning to growth starting this March quarter and remain very optimistic about our business," he said.

Total expenses of Whirlpool of India, a subsidiary of Whirlpool Corporation, were at Rs 1,214.01 crore as against Rs 1,144.49 crore of the corresponding quarter, up 6.07 per cent.

Shares of Whirlpool of India Ltd on Friday settled at Rs 2,525.45 on BSE, up 1.37 per cent from the previous close.