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Whirlpool of India tanks after Q3 results

Capital Market 

The home appliances maker's consolidated net profit jumped 22.9% to Rs 76.49 crore in Q3 December 2019 (Q3 FY20) as against net profit of Rs 62.23 crore in Q3 December 2018 (Q3 FY19).

Net sales rose 4.9% year-on-year (Y-o-Y) to Rs 1,271.24 crore in Q3 FY20. The Q3 results were disclosed after trading hours on Friday, 7 February 2020.

Consolidated profit before tax gained 4.6% to Rs 99.95 crore Y-o-Y. Current tax expenses slumped 29.6% to Rs 24.38 crore during the period under review.

Meanwhile, Vishal Bhola has been appointed as the managing director of the company with effect from 4 April 2020 for five years.

Whirlpool of India is primarily engaged in manufacturing and trading of refrigerators, washing machines, air conditioners, microwave ovens and small appliances and caters to both domestic and international markets.

Shares of Whirlpool of India dropped 5.83% to Rs 2,378.25 on BSE. The scrip hovered in the range of Rs 2,367.75 to Rs 2,495.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 10 2020. 12:37 IST