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Whirlpool of India Q4 net profit rises 24.7% to Rs 79.5 crore

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Whirlpool’s revenue from operations was up 3.66 per cent to Rs 1,734 crore during the quarter under review

New Delhi: Consumer durables maker Whirlpool of India Ltd on Monday reported a 24.7 per cent increase in consolidated net profit to Rs 79.45 crore in the March quarter.

The company had posted a net profit of Rs 63.71 crore during the January-March quarter of the previous fiscal, Whirlpool of India, a subsidiary of Whirlpool Corporation, said in a regulatory filing.

Whirlpool’s revenue from operations was up 3.66 per cent to Rs 1,734 crore during the quarter under review.

It was at Rs 1,672.65 crore in the corresponding period of the previous fiscal.

Its growth in profit was “driven by the volume growth, strong cost productivity actions leading to better margins and improved mix of premium and high margin portfolio,” said an earning statement from the company.

“While the market for refrigerators and washers was flattish, our market shares for Jan-March have grown significantly compared to the same period last year driving the modest revenue growth,” it said.

Whirlpool of India’s total expenses were at Rs 1,660.4 crore in the March quarter, up 2.1 per cent. Its total income in the March quarter was up 5.2 per cent Rs 1,793.52 crore.

For FY24, Whirlpool of India’s consolidated net profit was flat at Rs 224.30 crore as against Rs 224.01 crore a year earlier. Whirlpool of India’s revenue from operations for FY24 was Rs 6,829.8 crore, up 2.43 per cent.

In a separate filing, Whirlpool of India said its board in a meeting on Monday recommended a final dividend of 50 per cent, which is Rs 5 per equity share of the face value of Rs 10, for FY24.

Shares of Whirlpool of India Ltd on Monday settled at Rs 1,577.25 on the BSE, up 0.59 per cent from the previous close.

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