Whirlpool shares climb 10% on robust Q1 earnings

Shares of consumer durables firm Whirlpool of India today surged 10 per cent, continuing its rally for the second straight session, after the company reported a 67.37 per cent increase in standalone net profit for the first quarter ended June 30.
Whirlpool's scrip ended the day 10 per cent higher at Rs 453.80 -- its 52-week high level on the BSE.
At the NSE, the stock advanced by 9.52 per cent to end at Rs 454.90.
The scrip had rallied 10 per cent on Thursday as well.
Stock markets were closed on Friday for Independence Day celebration.
Whirlpool had on Thursday reported a 67.37 per cent increase in standalone net profit at Rs 83 crore for the first quarter ended June 30, on robust operating margins.

The company had posted a standalone net profit of Rs 49.59 crore during the same period of the previous fiscal.

Net sales went up by 19.18 per cent to Rs 1,020.10 crore during the April-June quarter as against Rs 855.89 crore in the same period last fiscal, Whirlpool had said in a statement.
"We have delivered a very strong operating performance, which combined with an improvement in consumer demand has resulted in significant increase in our operating profits. We remain optimistic about our performance in the future," Arvind Uppal, Whirlpool of India Chairman & Managing Director and President South Asia and Asia Pacific, Whirlpool Corporation had said.

On the outlook, the company had said its plan to introduce over 200 new models in 2014 is on track. It has already put into market a new range of air conditioners, refrigerators and washing machines.