Muted refrigerator sales and higher ewaste provisions weigh on Whirlpool’s quarterly earnings; revenue slips nearly 4 per cent year-on-year
Whirlpool of India reported a 21.9 per cent year-on-year drop in consolidated net profit to Rs 42 crore for the quarter ended September 2025, as subdued refrigerator demand and higher ewaste provisions weighed on performance. The company had posted a net profit of Rs 53.5 crore in the same quarter last year.
Revenue from operations declined 3.8 per cent to Rs 1,647 crore from Rs 1,713 crore a year earlier, primarily due to sluggish refrigerator industry growth and competitive pricing pressures. Profit before tax (PBT) fell 21.6 per cent year-on-year to Rs 57.5 crore, with management noting a 16 per cent decline before accounting for the ewaste upcharge.
Operating profit also weakened, with earnings before interest, tax, depreciation, and amortisation (Ebitda) down 33.8 per cent year-on-year to Rs 57.6 crore. The Ebitda margin contracted to 3.5 per cent from 5 per cent last year. Total income slipped 3.7 per cent to Rs 1,697 crore, while expenses eased 2.3 per cent to Rs 1,649 crore.
Despite the profit decline, Whirlpool said its “Productivity for Growth” (P4G) programme helped improve gross margins by 50 basis points through cost efficiencies and productivity initiatives. The company said it continues to focus on premiumisation and executional excellence amid a weak macroeconomic backdrop ahead of the GST 2.0 rollout.
For the first half of FY2025-26, Whirlpool’s consolidated revenue stood at Rs 4,080 crore, down 3.1 per cent from last year. PBT dropped 5.7 per cent to Rs 254 crore (up 4.7 per cent before the ewaste charge), while net profit fell 5.5 per cent to Rs 188 crore. Its subsidiary, Elica PB India, continued to deliver healthy profit margins.
