Whirlpool India Q3 Profit Up 12%, Revenue Rises 18%

New Delhi, Feb 2 (PTI) Consumer durables maker Whirlpool of India Ltd on Friday reported a 12 per cent growth in its consolidated net profit at Rs 29.93 crore for the third quarter ended December 2023, helped by volume growth.

The company had posted a net profit of Rs 26.71 crore during the October-December quarter of the previous fiscal, Whirlpool of India, a subsidiary of Whirlpool Corporation said in a regulatory filing.

Its revenue from operations was up 17.9 per cent to Rs 1,535.65 crore during the quarter under review. It was at Rs 1,302.46 crore in the corresponding period of the previous fiscal.

Whirlpool of India's total expenses were at Rs 1,528.92 crore in the December quarter, up 17 per cent.

Its total income in the December quarter was up 17 per cent Rs 1,571.17 crore.

Commenting on the result, Managing Director Narasimhan Eswar said: "We had a strong quarter on revenue and volume growth on the back of our recently launched innovations being fully available in the marketplace, competitive pricing indices compared to a year ago, a significant step up in all execution areas, driving premiumisation across categories and also aided by Diwali seasonality this year.

"On the profit front, other than the positive effects of volume growth and mix, we also reaped the benefits of a strong productivity program across all lines of the P&L," he said.

Shares of Whirlpool of India Ltd on Friday settled at Rs 1,347.75 on BSE, up 0.37 per cent from the previous close.