Whirlpool profit after tax climbs 62% in June quarter on low base

Home appliances major Whirlpool of India, on Tuesday, reported a 62 per cent rise in its profit after tax (PAT) during the April-June quarter. Its net profit for the quarter stood at Rs 25.5 crore -- up from Rs 15.8 crore in the year-ago period.

The firm’s operating revenue rose 30.5 per cent over the same quarter last year to Rs 1,341 crore. The top-line growth came on low bases because of a nationwide lockdown in the June quarter last year. 

Against its pre-Covid performance, the operating revenue was 32 per cent lower than Rs 1,974 crore it had posted in the June 2019 quarter. Its net profit grew both over the June 2019 and 2020 quarters because of a major change in its inventories of finished goods, work-in-progress, and stock-in-trade.