Quarterly revenue rises 3.66 per cent, with strong market share gains in refrigerators and washers
Consumer durables maker Whirlpool reported a 3.66 per cent increase in revenue from operations, reaching Rs 1,734 crore for the quarter under review, compared to Rs 1,672.65 crore in the same period last year. The company’s profit growth was attributed to volume growth, strong cost productivity measures, better margins and an improved mix of premium and high-margin products, according to an earnings statement.
“While the market for refrigerators and washers was flat, our market shares for January-March have grown significantly compared to the same period last year, driving modest revenue growth,” the company said.
Total expenses for Whirlpool India in the March quarter rose by 2.1 per cent to Rs 1,660.4 crore. The total income for the quarter increased by 5.2 per cent to Rs 1,793.52 crore.
For the fiscal year 2023-24, Whirlpool of India’s consolidated net profit remained flat at Rs 224.30 crore, up slightly from Rs 224.01 crore the previous year. Revenue from operations for FY24 was Rs 6,829.8 crore, a 2.43 per cent increase.
