Whirlpool of India records strong revenue and profit growth in Q2
Total income from operations of Rs. 1,159.7 Cr. grew by 23.5 % (37.5 % growth excise adjusted).
Profit after Tax at Rs. 73.5 Cr was higher by 25.1 % over the same quarter last year.
Arvind Uppal, Chairman & Executive Director Whirlpool of India Limited said, “This has been a strong performance aided by an early Diwali but adversely impacted due to the GST transition. We are starting to see the re-emergence of raw material headwinds but remain extremely positive about the future on the back of strong consumer demand.”
Sunil D’Souza, Managing Director Whirlpool of India Limited said, “We executed well during the GST transition and saw strong volume momentum early in the Quarter as trade restocked their inventories. This momentum continued for Whirlpool to the pre-Diwali season on the back of continued distribution expansion, consumer -winning innovative product launches in refrigerators & washers and focused execution on the shop-floors. Continued focus on cost management and driving efficiencies helped us deliver the flow-through on the bottom line. Despite some commodity headwinds, we continue to remain bullish on the long term outlook on the demand for appliances and the growth potential for our business in India."
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