Whirlpool India's Profit Soars by Over 40% Amidst Strong Volume Growth

Whirlpool of India Ltd reported a significant 40.13% increase in net profit for the September 2024 quarter, reaching Rs 53.53 crore. This growth was spurred by a rise in volume and enhanced cost productivity measures. Revenue surged by 12.58% to Rs 1,713 crore, driven by a stronger market presence in refrigerators and washers, and a shift toward premium products.

Whirlpool of India Ltd announced a notable financial upswing with a 40.13% increment in its consolidated net profit, amassing Rs 53.53 crore for the September 2024 quarter. This positive financial result was attributed to increased sales volumes and strategic cost-cutting efforts.

The company's revenue saw an upswing of 12.58%, climbing to Rs 1,713 crore, compared to Rs 1,521.56 crore from the same quarter last year. Whirlpool credited this growth to a significant surge in the sales of refrigerators and washers, alongside a shift towards a premium product lineup.

Besides volume increases, profit margins benefited from strategic cost productivity actions, enhancing the mix of high-margin and premium products. Despite the robust financial performance, shares of Whirlpool India closed 1.65% lower at Rs 2,041.65 on the BSE, with the firm's Managing Director, Narasimhan Eswar, affirming a commitment to a long-term plan focused on sustainable growth.

(With inputs from agencies.)